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Inventory Costing Methods-Perpetual Method Using the data below, assume that Graham Corporation uses the perpetual inventory system. Calculate the value of ending inventory and
Inventory Costing Methods-Perpetual Method Using the data below, assume that Graham Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold at year-end using the perpetual method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. Beginning Inventory, January 1 1,200 Units Unit Cost $18 Purchases February 11 1,500 $19 May 18 1,400 20 October 23 1,100 22 Sales Marth 1 1,400 July 1 1,400 October 29 1.000 a First-In, First Out Ending Invertorys Cost of goods Sold b. Latin, First Our Ending Inventory S Cost of Goods Sold s Weighted Average Ending Inventory E Cost of Goods Sold +
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