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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 $ 28 Beginning Inventory
Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the current period. Units Unit Cost $ 28 Beginning Inventory 100 Purchases: #1 650 24 #2 550 20 #3 200 18 Ending inventory 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. (a) First-in, first-out Ending inventory Cost of goods sold (b) Average cost S Ending inventory Cost of goods sold S (C) Last-in, first-out Ending inventory S Cost of goods sold S Support
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