Question
From the following inventory information, calculate the dollar amounts in cost of goods sold and ending inventory for the month under various cost flow assumptions.
From the following inventory information, calculate the dollar amounts in cost of goods sold and ending inventory for the month under various cost flow assumptions. assume periodic inventory is used and round any unit costs for weighted average to four decimals. round ending inventory and cost of goods sold to the nearest dollar.
1/1 Begin with 200 units @ $6.00
1/6 Bought 170 units @ $7.00
1/8 Sold 150 units @ $10.00
1/11 Bought 190 units @ $8.00
1/15 Sold 230 units @ $12.00
1/20 Bought 150 units @ $9.00
1/29 Sold 100 units @ $14.00
FIFO EI _______________ COGS _______________
LIFO EI _______________ COGS _______________
Weighted Average EI _______________ COGS _______________
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