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Cortez Company sells chairs that are used at computer stations. Its beginning Inventory of chairs was 210 units at $42 per unit. During the year,
Cortez Company sells chairs that are used at computer stations. Its beginning Inventory of chairs was 210 units at $42 per unit. During the year, Cortez made two batch purchases of this chalr. The first was a 325 -unit purchase at $47 per unit; the second was a 355 -unit purchase at $49 per unit. During the perlod, it sold 595 chalrs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses a. FIFO. b. LIFO. c. Weighted average. (Do not round Intermedlate calculations. Round your final answers to nearest whole dollar amount.)
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