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Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the current period: Units Unit cost Beginning inventory. 100 544

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Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the current period: Units Unit cost Beginning inventory. 100 544 Purchases 40 #1 650 #2 550 36 #3 200 34 Ending inventory at the end of this period is 350 units. Compute the ending inventory and the cost of goods sold for the current period using (a) first-in, first-out. (b) average cost, and (c) last-in, first out Average cost Cost of goods sold 5 Ending inventory FIFO LIFO $ $

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