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Kingbird, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 130 units were sold. Date
Kingbird, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 130 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 60 $13 $780 15 Purchases 50 16 800 24 Purchases 70 17 1.190 Totals 180 $2,770 Compute the ending inventory at May 31 and cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) Ending inventory at May 31 $ Cost of goods sold $ FIFO $ LIFO Average-cost $ $
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