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Could you please answer 2 + 3 as they were wrong in the last post? Inventory Costing Methods Carrington Inc. reported the following information for
Could you please answer 2 + 3 as they were wrong in the last post?
Inventory Costing Methods Carrington Inc. reported the following information for the month of February: Inventory, February 1 63 units @ $26 Purchase: February 7 55 units @ $27 February 18 60 units @ $29 February 27 45 units @ $31 During February, Carrington sold 142 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for February under the following assumptions. Assumption Cost of Goods Sold Ending Inventory 1. Of the 142 units sold, 53 cost $26, 39 cost $27, 45 cost $29, and 5 cost $31. $ 2. FIFO $ 3. LIFO $ $ 4. Weighted average method (Round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar.)Step by Step Solution
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