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Pigwig Company uses a periodic inventory system for its merchandise. The following information pertains to its July, 2022 Transaction/Condition Beginning Inventory First Purchase Second Purchase
Pigwig Company uses a periodic inventory system for its merchandise. The following information pertains to its July, 2022 Transaction/Condition Beginning Inventory First Purchase Second Purchase Third Purchase Number of Units Cost Per Unit 28 $36.00 26 $37.00 25 $38.00 27 $40.00 At the end of July there were 34 units remaining in Pigwig's inventory. Calculate the ending inventory as well as the cost of goods sold under the following methods: (Set up a table to make your answers clear, numbers alone will not be sufficient if what they represent is unclear) a) FIFO b) LIFO c) Weighted Average
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