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Seymour Company's inventory records for the most recent year contain the following data: BEE (Click the icon to view the data.) Seymour Company sold
Seymour Company's inventory records for the most recent year contain the following data: BEE (Click the icon to view the data.) Seymour Company sold a total of 19,800 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 Average-cost method cost of goods sold = Average-cost method ending inventory = $ 194,040 $ 1,960 Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. FIFO method cost of goods sold = FIFO method ending inventory = $ 194,000 $ 2,000 Requirement 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. LIFO method cost of goods sold = LIFO method ending invetory = Data table Beginning inventory Quantity Unit Cost 2,000 $ 8.00 Purchases during year 18,000 $ 10.00 Print Done - X
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