Inventory Costing MethodsPeriodic Method

Arrow Company is a retailer that uses the periodic inventory system.

August	1	Beginning inventory	80	units of Product A @	$1,600	total cost
	5	Purchased	100	units of Product A @	$2,116	total cost
	8	Purchased	200	units of Product A @	$4,416	total cost
	11	Sold	170	units of Product A @	$4,800	total sale

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