Question
Inventory data for Williams Door Products Corporation for the month of October are as follows: Merchandise inventory, October 1 50 units at $140 each October
Inventory data for Williams Door Products Corporation for the month of October are as follows: Merchandise inventory, October 1 50 units at $140 each October 8 purchase 50 units at $155 each October 15 purchase 55 units at $160 each October 22 purchase 60 units at $170 each October 29 purchase 55 units at $175 each Total= 270 units at 800 each During the month of October, Williams sold 250 units. Compute the value of ending inventory and COGS on October 31 using the FIFO, LIFO and Average-cost methods of accounting for inventory. Round weighted-average cost per unit to the nearest cent and round all other amounts to the nearest dollar. PLEASE USE THE FOLLOWING TABLE TO SHOW YOUR FINAL ANSWER. ENDING INVENTORY & COGS VALUATION COGS Model: W. Average FIFO LIFO Ending Inventory COGS
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