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Sa The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales Beginning inventory Purchases, in chronological order 90
Sa The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales Beginning inventory Purchases, in chronological order 90 units 200 units 2 $a 330 units @ $5 430 units @ $? 230 units Requlred: a. Calculate cost of goods sold and ending Inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic Inventory system): (Round unlt cost to 2 decimal places.) Cost of Goods Sold Ending Inventory FIFO LIFO Weighted average b. Assume that net Income using the welghted-average cost flow assumption is $13.700. Calculate net Income under FIFO and LIFO. (Round unit cost to 2 decimal places.) Net Income FIFO LIFO
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