Company uses A periodic inventory system. Beginning inventory consisted of 360 units that cost $65 each. During
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Question:
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
- How many units are in the ending inventory?
- Using the average cost method, what is the average cost per unit?
- Using the average cost method, what is the amount of ending inventory?
- Using FIFO, what is the amount of ending inventory?
- Using FIFO, what is the amount of cost of goods sold?
- Using LIFO, what is the amount of ending inventory?
- Using LIFO, what is the amount of cost of goods sold?
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