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Inventory records for Marvin Company revealed the following: March 1 Beginning inventory 1,000 $8.00/unit March 5 Sale 400 March 10 Purchase 600 $8.25/unit March 14
Inventory records for Marvin Company revealed the following:
March 1 Beginning inventory 1,000 $8.00/unit
March 5 Sale 400
March 10 Purchase 600 $8.25/unit
March 14 Sale 700
March 16 Purchase 800 $9.50/unit
March 20 Sale 500
March 23 Purchase 600 $8.00/unit
March 26 Sale 700
Marvin Keeps his records on a periodic inventory basis. Calculate COGS and ending inventory using
FIFO : COGS __________ eanding inventory _________
Average cost COGS _________ Ending inventory
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