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Requirements 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the
Requirements 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Print Done - Data table Quantity Unit Cost Beginning inventory 6,000 $ 6.00 Purchases during year 18,000 $ 8.00 Print Done Simpson Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Simpson Company sold a total of 19,200 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Average-cost method cost of goods sold = Average-cost method ending inventory =
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