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Company uses A periodic inventory system. Beginning inventory consisted of 360 units that cost $65 each. During the month of February, the company made two

Company uses A periodic inventory system.

Beginning inventory consisted of 360 units that cost $65 each.

During the month of February, the company made two purchases

on February 15, they bought 540 units at $68 each

on February 25, they bought 270 units at $70 each

Company A also sold 900 units during the month

  1. How many units are in the ending inventory?
  2. Using the average cost method, what is the average cost per unit?
  3. Using the average cost method, what is the amount of ending inventory?
  4. Using FIFO, what is the amount of ending inventory?
  5. Using FIFO, what is the amount of cost of goods sold?
  6. Using LIFO, what is the amount of ending inventory?
  7. Using LIFO, what is the amount of cost of goods sold?

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