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Records of the Schwab Company show the following data: March 1 March 3 March 6 March 13 March 20 March 25 Inventory Sale Purchase Purchase
Records of the Schwab Company show the following data: March 1 March 3 March 6 March 13 March 20 March 25 Inventory Sale Purchase Purchase Sale Purchase 325 units @ 25.50 300 units 300 units @ 26.00 350 units @ 27.00 200 units 50 units @ 27.50 Instructions: Calculate the ending inventory and cost of goods sold on March 31 for each of the following inventory methods: 1. FIFO - Periodic 2. LIFO - Perpetual 3. Average - Perpetual (round unit cost averages to 3 decimal places)
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