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Compute COGS and Ending Inventory balances using the periodic method and each if the following cost flow assumptions (FIFO LIFO & WTD AVERAGE) are conto
Compute COGS and Ending Inventory balances using the periodic method and each if the following cost flow assumptions (FIFO LIFO & WTD AVERAGE)
are conto baren B. Compute COGS and Ending Inventory balances using the Periodic Method and each of the following cost flow assumptions (FIFO, LIFO & Wtd Average): (The 6 bold boxes below will be graded!) ethod: Ending Inventory FIFO LIFO Units Unit Price Total Cost FIFO Bal LIFO Bal Wtd Avg bal 1-Jun Beg Inventory 300 $ 10.00 $3,000 4-Jun Purchases 450 $ 12.00 $ 5,400 14-Jun Purchases 250 $ 14.00 $ 3,500 15-Jun Purchases 250 $ 15.00 $ 3.750 30-Jun Purchases 225 $ 16.00 $ 3.600 Total Inven avail. For sale EOP (End of Period) inventory 1.475 375 $ 19,250 $ $ COGS (Cost of Goods Sold) 1,100 Step by Step Solution
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