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Inventory Costing Methods-Perpetual Method The following information is for the Bloom Company for 2012; the company sells just one product: Units Unit Cost Beginning Inventory
Inventory Costing Methods-Perpetual Method The following information is for the Bloom Company for 2012; the company sells just one product: Units Unit Cost Beginning Inventory Jan. 1 200 $13 Purchases: Feb. 11 500 $17 May 18 400 19 Oct. 23 100 23. Sales: March 1 400 July 1 400 Calculate the value of ending inventory and cost of goods sold using the perpetual method and (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 $ 0 Cost of goods sold $ 0 B. Last-in, first-out: Ending Inventory $ 0 Cost of goods sold $ 0 C. Weighted Average Ending Inventory $ Cost of goods sold $ 0 0
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