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Question 3: ABC Company provides the following information related to its merchandise inventory for the month of September 2021: September 1: 1,200 units on hand
Question 3: ABC Company provides the following information related to its merchandise inventory for the month of September 2021: September 1: 1,200 units on hand at $2.80 each September 3: Purchased 5,600 units at $2.40 each September 8: Sold 2,200 units for $4.50 each September 12: Purchased 1,400 units at $2.50 each September 17: Sold 3,000 units at $4.60 each September 22: Purchased 1,600 units at $2.80 each September 30: Inventory on hand - 4,600 units. ABC uses a perpetual inventory system. Calculate COGS and ending inventory balances using FIFO, LIFO, and Average Cost methods (for avg cost, try your best to round. Show your work so I can follow what you do)
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