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Kirks Company uses the periodic inventory method and had the following inventory information available for the month of November. A physical count of units on
Kirks Company uses the periodic inventory method and had the following inventory information available for the month of November. A physical count of units on November 30 revealed that 900 units were on hand. Answer the following independent questions and show calculations supporting your answers. 1. Assume that the company uses the average cost method. What is the dollar value of the ending inventory on November 30 ? 2. Assume that the company uses the FIFO inventory method. The dollar value of the ending inventory on November 30 is: 3. Assume that the company uses the LIFO inventory method. What is the dollar value of the cost of goods sold during November
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