Question
Marigold Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 75 units were sold. Date May
Marigold Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 75 units were sold. Date May 1 15 24 Explanation Units Inventory Purchases Purchases Totals Cost of goods sold 35 eTextbook and Media 29 Ending inventory at May 31 Search 40 104 Unit Cost $9 12 13 Total Cost 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 0 decimal places, e.g. 5,125.) FIFO $315 348 520 $1,183 tA $ +A $ LIFO LM +A Average-cost W
Marigold Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 75 units were sold. 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 0 decimal places, e.g. 5,125
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