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Zippy Shoe Company uses a periodic inventory system. Zippy purchased $435$ pairs of shoes at $$78$ each in June, $960$ pairs in August at $$80$ each, and $610$ pairs in December at $$83$ each. Zippy sold $1,895$ pairs of shoes during the year.

Required:

Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.

a$.$ FIFO

b$.$ LIFO

c$.$ Weighted Average

Complete this question by entering your answers in the tabs below.

Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method.

Cost of Goods Sold

Ending Inventory