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PART III - INVENTORY COMPUTATIONS (18 points) Bochum Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April
PART III - INVENTORY COMPUTATIONS (18 points) Bochum Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 80 units at a cost of $6 per unit. During April, the following purchases and sales were made. April 7 April 5 Purchases 0 units at $7.00 120 units at $7.50 90 units at $8.00 50 units at $8.80 320 Sales 120 90 80 40 330 units at $20 units at $20 units at $20 units at $20 20 Instructions: Compute the April 30 ending inventory and April cost of goods sold under (a) average cost, (b) FIFO, and (c) LIFO. Provide appropriate supporting calculations. (1) Average - Ending Inventory = $_ Cost of Goods Sold = $_ (2) FIFO - Ending Inventory = $_ Cost of Goods Sold = $_ (3) LIFO - Ending Inventory = $__ Cost of Goods Sold = $_
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