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Models and More store bought and sold a line of dolls during December as follows: Cost $11 Date December 1 December 3 December 9 December
Models and More store bought and sold a line of dolls during December as follows: Cost $11 Date December 1 December 3 December 9 December 12 December 18 December 22 Balance/Transaction No. of units Beginning Inventory 13 units Sale 9 units Purchase 17 units Sale 13 units Purchase 10 units Sale 10 units $13 $15 Required: Compute the total COGS and Ending Inventory for December using the following methods: a. FIFO b. Average Cost
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