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Sheridan Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During the yean,
Sheridan Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During the yean, the following purchases were made. Mar. 15 400 units at $24 Sept. 4 300 units at $33 July 20 220 units at $28 Dec. 2 100 units at $30 975 units were sold. Sheridan Company uses a periodic inventory system. Your answer is correct. Determine the cost of goods available for sale. The cost of goods available for sale s 31.860 Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 1.250.) Average cost per unit $ 27 Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 1,250.) AVERAGE-COST LIFO FIFO $ $ The ending inventory $ $ $ $ The cost of goods sold
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