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Sherman Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sherman Company sold a total
Sherman Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sherman Company sold a total of 18,600 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 = Data Table Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. FIFO method cost of goods sold = Quantity Unit Cost FIFO method ending inventory = Beginning inventory 8,000 $ 6.00 Requirement 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Purchases during year 12,000 $ 10.00 LIFO method cost of goods sold = LIFO method ending invetory = Print Done
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