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Sherwood Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sherwood Company sold a total
Sherwood Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sherwood Company sold a total of 18,500 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.) Using the average-cost method, the cost of goods sold is $ C a nd the ending inventory is $O 6 Data Table Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. Using the FIFO method, the cost of goods sold is $ C a nd the ending inventory is $O . Requirement 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Quantity Unit Cost Beginning inventory 9,000 $ 18.00 Using the LIFO method, the cost of goods sold is $ C a nd the ending inventory is $C . Purchases during year 16,000 $ 20.00 Print Done
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