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Novak Corp. had 120 units in beginning inventory at a total cost of $12,000. The company purchased 200 units at a total cost of $28,000.
Novak Corp. had 120 units in beginning inventory at a total cost of $12,000. The company purchased 200 units at a total cost of $28,000. At the end of the year, Novak had 60 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to 0 decimal places, e.g. 1,250.)
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