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FIFO, LIFO and weighted average Computadoras del Futuro made several purchases and sales in April. He had operating expenses of $ 1,800. to. Prepare three

FIFO, LIFO and weighted average Computadoras del Futuro made several purchases and sales in April. He had operating expenses of $ 1,800. to. Prepare three income statements: one using the FIFO method, another LIFO, and the other using the weighted average. The merchandise was sold for $ 200 each. b. Calculate the cost of goods sold using the periodic inventory model.

Date

Detail

Quantity

(unit cost)

April 1

Initial inventory

6

$72

6

Sale

4

8

Purchase

11

84

13

Sale

5

15

Sale

3

19

Purchase

20

109

21

Sale

8

22

Sale

2

27

Purchase

10

90

30

Sale

6





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