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Inventory records for Marvin Company revealed the following: March 1 Beginning Inventory 1,000 $7.00/unit March 10 Purchase 700 $8.00/unit March 23 Purchase 600 $9.00/unit Marvin
Inventory records for Marvin Company revealed the following: March 1 Beginning Inventory 1,000 $7.00/unit March 10 Purchase 700 $8.00/unit March 23 Purchase 600 $9.00/unit Marvin sold 1,800 units in March. He uses the periodic method. Calculate his COGS and ending inventory for March using the following methods. FIFO : COGS $_______________ Ending Inventory $ ___________________ LIFO: COGS $________________ Ending Inventory $ ___________________ Average Cost: COGS $________________ Ending Inventory$ __________________
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