Continental Sporting Goods started April with an inventory of 10 sets of golf clubs that cost a total of $1480. During April, Continental purchased 22 sets of clubs for $3520. The question is stated follow.

Continental Sporting Goods shrted April with an inventory of 10 sets of golf clubs that cost a total of $1,480t During April. Continental purchased 22 sets of clubs for $3.520. At the end of the month, Continenml had seven sea of golf clubs on hand. The store manager must select an inventory costing method, and he asks you to tell him both cost of goods sold and ending inventory under these three accounting methods, assuming the periodic inventory system is used: 1a. Weighted-average cost 1 b. FIFO 2. If the store manager wants the most current cost for ending inventory, which method should he choose? Determine the cost of goods sold and ending inventory amounts under the two methods. (Round your interim calculations to the nearest cent. Round your nal answers to the nearest dollar.) 1:. 1 b. Average Cost FlFO Cost Cost of goods sold Ending inventory 2. If the store manager wants the most current oost for ending inventory. which method should he choose? The store manager should choose 7 because the cost of inventory is 7 , and therefore, results in the most current cost for ending inventory. 2. If the store manager wants the most current cost for ending inventory, which method should he choose? The store manager should choose because the cost of inventory is and therefore, results in the most current cost for ending inventory. LIFO FIFO Specific identification Weighted-average2. If the store manager wants the most current cost for ending inventory, which method should he choose? The store manager should choose V because the cost of inventory is V , and therefore, results in the most current cost for ending inventory. lowering increasing has not changed