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Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system. August 1 Beginning inventory 210 units of Product A @

Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system.

August 1 Beginning inventory 210 units of Product A @ $2,900 total cost
5 Purchased 230 units of Product A @ $3,416 total cost
8 Purchased 330 units of Product A @ $5,716 total cost
11 Sold 280 units of Product A

Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods.

Do not round until your final answers. Round your final answers to the nearest dollar.

A. First-in, first-out
Ending Inventory Answer
Cost of Goods Sold Answer
B. Last-in, first-out
Ending Inventory Answer
Cost of Goods Sold Answer
C. Weighted-average cost
Ending Inventory Answer
Cost of Goods Sold Answer

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