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could you please show me the steps on solving this question please? Jessica's Office Supply, Inc., had 300 calculators on hand at January 1, 2017,
could you please show me the steps on solving this question please?
Jessica's Office Supply, Inc., had 300 calculators on hand at January 1, 2017, costing $16 each. Purchases and sales of calculators during the month of January were as follows: Purchases Sales Date January 12 14 200 @ $25 150 @ $17 100 @ $18 29 30 150@ $30 Jessica does not maintain perpetual inventory records. According to a physical count, 200 calculators were on hand at January 31, 2017 Required: 1. What is the amount of ending inventory at January 31, 2017, and cost of goods sold for the month ended January 31, 2017, under the FIFO method? 2. What is the amount of ending inventory at January 31, 2017, and cost of goods sold for the month ended January 31, 2017, under the LIFO method? 3. What is the amount of ending inventory at January 31, 2017, and cost of goods sold for the month ended January 31, 2017, under the average cost method? (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Ending inventory at January 31, 2017 Cost of Goods Sold January 31, 2017 1. FIFO 2. LIFO 3. Average costStep by Step Solution
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