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Navy Seals Surplus began May 2021 with 80 stoves that cost $10 each. During the month, the company made the following purchases at cost:
Navy Seals Surplus began May 2021 with 80 stoves that cost $10 each. During the month, the company made the following purchases at cost: (Click the icon to view the purchases.) The company sold 253 stoves, and at May 31, the ending inventory consisted of 47 stoves. The sales price of each stove was $55 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. Cost of goods sold Ending inventory Number of units 2535 Average cost 5,000 FIFO 47 $ 940 Data table May 5 May 18 May 201 90 stoves $20 $1,800 100 stoves $25- 2,500 30 stoves $30-> 900 Print Done
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