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Sheffield Corp. had a beginning inventory of 115 units of Product RST at a cost of $9 per unit. During the year, purchases were: Feb.
Sheffield Corp. had a beginning inventory of 115 units of Product RST at a cost of $9 per unit. During the year, purchases were: Feb. 20 660 $10 Aug. 12 401 units at $12 units at units at May 5 559 $11 Dec. 8 115 units at $13 Sheffield uses a periodic inventory system. Sales totaled 1,500 units. Determine the cost of goods available for sale. The cost of goods available for sale $ 20091 Calculate Average Cost. (Round answer to 3 decimal places, eg. 5.125.) Average Cost $ 10.860 Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to decimal places, e.g. 150.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $
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