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Navy Seals Surplus began May 2018 with 70 stoves that cost $10 each. During the month, the company made the following purchases at cost E(Click
Navy Seals Surplus began May 2018 with 70 stoves that cost $10 each. During the month, the company made the following purchases at cost E(Click the icon to view the purchases.) The company sold 247 stoves, and at May 31, the ending inventory consisted of 53 stoves. The sales price of each stove was $44 Read the requirements Requirement 1. Determine the cost of goods sold and ending inventory amounts for May under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. Number of units Average cost Cost of goods sold Ending inventory i Data Table $ 1,200 80 stoves @ May $15 6 100 stoves@ $24 18 2,400 50 stoves @ $28 1,400 Print Done 26
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