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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 40 units at $124
Mar. 10 Purchase 70 units at $132
Aug. 30 Purchase 20 units at $136
Dec. 12 Purchase 70 units at $138
There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. dollar.
Cost of Ending Inventory and Cost of Goods Sold
Inventory Method Ending Inventory Cost of Goods Sold
First-in, first-out (FIFO) : q, $
Last-in, first-out (LIFO)q,
q,
Weighted average cost q,
q,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 40 units at $124
Mar. 10 Purchase 70 units at $132
Aug. 30 Purchase 20 units at $136
Dec. 12 Purchase 70 units at $138
There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. dollar.
Cost of Ending Inventory and Cost of Goods Sold
Inventory Method Ending Inventory Cost of Goods Sold
First-in, first-out (FIFO) : q, $
Last-in, first-out (LIFO)q,
q,
Weighted average cost q,
q,
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