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pleasse answer FIFO, LIFO, and weighted aberage cost for both ending inventory and cost if goods sold Periodic Inventory by three methods, cost of goods
pleasse answer FIFO, LIFO, and weighted aberage cost for both ending inventory and cost if goods sold
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 Mar. 10 Purchase Inventory 50 units at $96 40 units at $108 Aug. 30 Purchase 30 units at $114 Purchase 80 units at $120 There are 40 units of the item in the physical Inventory at December 31. The periodic Inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar Dec. 12 Cost of Ending Inventory and cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First in, first-out (FIFO) Last in, first-out (LIFO) Weighted average cost Step by Step Solution
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