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Cheyenne Corp. uses the periodic inventory system and had 160 units in beginning inventory at a total cost of $20,000. The company purchased 320 units
Cheyenne Corp. uses the periodic inventory system and had 160 units in beginning inventory at a total cost of $20,000. The company purchased 320 units at a total cost of $49,600. At the end of the year, Cheyenne had 85 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average- cost. (Round average-cost per unit and final answers to O decimal places, e.g. 1,250.) FIFO LIFO Average-cost The cost of the ending inventory The cost of goods sold
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