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Larkspur, Inc. had a beginning inventory of 96 units of Product RST at a cost of $8 per unit. During the year, purchases were: Feb.
Larkspur, Inc. had a beginning inventory of 96 units of Product RST at a cost of $8 per unit. During the year, purchases were:
Feb. 20 | 643 | units at | $9 | Aug. 12 | 411 | units at | $11 | |||||||
May 5 | 480 | units at | $10 | Dec. 8 | 99 | units at | $12 |
Larkspur, Inc. uses a periodic inventory system. Sales totaled 1,450 units.
Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.)
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