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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 150
Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the current period: Units Unit cost Beginning inventory 150 $46 Purchases #1 975 42 #2 #3 825 38 300 36 Ending inventory at the end of this period is 525 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. Do not round any intermediate calculations. Round final answers to the nearest whole dollar amount. Cost of goods sold $ FIFO Average cost LIFO $ $ Ending inventory
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