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Problem 4 (30 points) Randolph Company has the following information about its beginning inventory and purchases for the current year: On September 30, 3,650 units
Problem 4 (30 points) Randolph Company has the following information about its beginning inventory and purchases for the current year: On September 30, 3,650 units were sold. At December 31 the ending inventory consisted of 1,500 units. REQUIRED: Calculate the following account balances. Your answer will be in dollars. NOTE Cost of Goods Sold will be for the September 30 sale while the value for Ending Inventory will be as of December 31 . Use the space below and the next page for your calculations, as necessary. Round per unit costs to the nearest hundredth (1.678 rounds to 1.68). Round final answers to the nearest whole dollar (10.678 rounds to 11). a. Cost of Goods Sold, Periodic, LIFO b. Ending Inventory, Periodic, Average Cost c. Cost of Goods Sold, Periodic, Average Cost d. Ending Inventory, Perpetual, LIFO e. Cost of Goods Sold, Perpetual, FIFO f. Ending Inventory, Periodic, FIFO
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