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com/hm.tpx M7-15 (Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under Perpetual F LIFO, and Weighted Average Cost [to 7-st1 In its first
com/hm.tpx M7-15 (Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under Perpetual F LIFO, and Weighted Average Cost [to 7-st1 In its first month of operations, Literacy for the literate opened a new bookstore and bought merchandise ir the following order: (1) 300 units at $5 on January 1, (2) 450 units at $6 on January 8, and (3) 840 units at $7 on January 29. Assume 990 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the (a) FIFO, (b) LIFO, and (c) weighted average cost flow assumptions. Assume perpetual inventory system and sold 600 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.) Weighted Average Cost FIFO LIFO Goods Available for Sale Cost of Goods Sold Ending Inventory
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