Question
Metro Mart Co. sells one product. Presented below is information for January 2022 for Metro. Date 1/1/22 Inventory 100 units at $5 each 1/11/22 Purchase
Metro Mart Co. sells one product. Presented below is information for January 2022 for Metro. Date 1/1/22 Inventory 100 units at $5 each 1/11/22 Purchase 150 units at $6 each 1/13/22 Sales 120 units at $10 each 1/20/22 Purchase 150 units at $7 each 1/27/22 Sales 100 units at $12 each Compute the following costs:
Metro Mart Co. sells one product. Presented below is information for January 2022 for Metro.
Date 1/1/22 Inventory 100 units at $5 each 1/11/22 Purchase 150 units at $6 each 1/13/22 Sales 120 units at $10 each 1/20/22 Purchase 150 units at $7 each 1/27/22 Sales 100 units at $12 each
Compute the following costs:
Required:
- Cost of goods sold under weighted average cost (periodic)
- Cost of ending inventory under FIFO (periodic).
- Cost of goods sold under LIFO (periodic).
- Cost of goods sold under LIFO (perpetual).
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