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Marigold Corp. had a beginning inventory on January 1 of 90 units of Product 4-18-15 at a cost of $20 per unit. During the year,
Marigold Corp. had a beginning inventory on January 1 of 90 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. Mar. 15 at Sept. 4 at $26 240 units 150 units $23 $24 210 units 60 units July 20 at Dec. 2 at $29 600 units were sold. Marigold Corp. uses a periodic inventory system. Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to 0 decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ 3180 $ The cost of goods sold $ $ 14940 $
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