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Kyota Distribution markets CDs of the performing artists. Following information is available for the company. Date Explanation Units Unit cost Total Cost 1 st of
Kyota Distribution markets CDs of the performing artists. Following information is available for the company.
Date | Explanation | Units | Unit cost | Total Cost |
1st of March 2012 | Beginning inventory | 15,00 | SR 7 | SR 10500 |
5th March | Purchases | 3,000 | SR 8 | 24,000 |
13th March | Purchases | 5,500 | SR 9 | 49,500 |
21st march | Purchases | 4,000 | SR10 | 40,000 |
March 26 | Purchases | 2,000 | SR 11 | 22,000 |
Total |
| 16,000 |
| 135,500 |
Requirement: Ending inventory of the company is 12,500 units. Find the Costs of goods sold for the company through FIFO, LIFO and Average method.
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