Question
Metro Mart Co. sells one product. Presented below is information for January 2022 for Metro. Date 1/1/22 Beginning Inventory 100 units at $5 each 1/11/22
Metro Mart Co. sells one product. Presented below is information for January 2022 for Metro. Date 1/1/22 Beginning Inventory 100 units at $5 each 1/11/22 Purchase 200 units at $6 each 1/13/22 Sales 250 units at $10 each 1/20/22 Purchase 150 units at $7 each 1/27/22 Sales 75 units at $13 each
Compute the following costs: 1) Cost of goods sold under weighted average cost (periodic). 2) Cost of ending inventory under FIFO (periodic). 3) Cost of goods sold under LIFO (periodic) 4) Cost of ending inventory under moving average (perpetual). 5) Cost of goods sold under FIFO (perpetual). 6) Cost of goods sold under LIFO (perpetual). *Show your computations.
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