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It is really urgent!!! I need urgent help!!!! PLEASEEE The company began June with merchandise inventory of 45 sofas that cost a total of $31,500.
It is really urgent!!! I need urgent help!!!! PLEASEEE
The company began June with merchandise inventory of 45 sofas that cost a total of $31,500. During the month, the company purchased and sold merchandise on account as follows:
June 7 | Purchase | 25 sofas @ $750 each |
14 | Sale | 30 sofas @ 1,150 each |
18 | Purchase | 50 sofas @ $775 each |
27 | Sale | 35 sofas @ $1,200 each |
Required: Compute the ending inventory and cost of goods sold assuming that the following methods are used:
- FIFO Perpetual
- Moving Weighted-Average Perpetual
- LIFO Perpetual
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