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just need help on cost of ending inventory for FIFO Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but
just need help on cost of ending inventory for FIFO
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its Inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January, Sales totaled 270 units. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units 140 300 24e Unit Cost $ 75 85 105 Total Cost $ 10,500 25, see 25, 20e Required: Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, - methods. FIFO LIFO Cost of Ending Cost of Goods Inventory Sold $ 21,550 $ 33,450 $ 27,750 $ 36,900 $ 24,300 Weighted Average Cost Step by Step Solution
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