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: Olympus Climbers Company has the following inventory data: Date Explanation Units Cost Per Unit Total Cost July 1 Beginning Inventory 30 $19 $ 570.00

: Olympus Climbers Company has the following inventory data:

Date

Explanation

Units

Cost Per Unit

Total Cost

July 1

Beginning Inventory

30

$19

$ 570.00

July 7

Purchases

105

$20

$2,100.00

July 22

Purchases

15

$22

$ 330.00

Total

150

$3,000.00

A physical count of merchandise inventory on July 30 reveals that there are 48 units on

hand. What is the amount allocated to cost of goods sold and ending inventory using FIFO, LIFO, and Average Cost methods?

Part (a): FIFO (5 point)

Part (b) LIFO (5 points)

Part C: Average Cost (5points)

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