Question
Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan 1
Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan 1 Inventory 30 units at $106 Mar 10 Purchase 60 units t $116 Aug 30 Purchase 20 units at $122 Dec 12 Purchase 90 units at $124 There are 80 units of the time in the physical inventory at December 31. Determine the ending inventory cost and the cost of goods sold by the three methods. Round interim calculations to one decimal and final answer to the nearest whole dollar. FIFO. Ending $. Cost of goods $ LIFO Ending $ Cost of goods $ Weighted average cost Ending $. Cost of goods$.
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