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Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: table [
Inventory by Three Methods; Cost of Goods Sold
The units of an item available for sale during the year were as follows:
tableJanInventory, units at $ eachJune Purchase, units at $ eachJuly Purchase, units at $ eachNovPurchase, units at $ each
There are units of the item in the physical inventory at December
Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form:
Round per unit cost to two decimal places, and use in subsequent computations. Round your final answers to the nearest dollar.
tableInventory Method,Ending Inventory,Cost of Goods Solda Firstin firstout method,$N$
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