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Skysong, Inc. Inc. had a beginning inventory of 105 units of Product RST at a cost of $9 per unit. During the year, purchases
Skysong, Inc. Inc. had a beginning inventory of 105 units of Product RST at a cost of $9 per unit. During the year, purchases were: Feb. 20 May 5 620 units at $10 Aug. 12 405 units at $12 505 units at $11 Dec. 8 100 units at $13. Skysong, Inc. uses a periodic inventory system. Sales totaled 1,435 units. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) The ending inventory The cost of goods sold FIFO 3,600 15.260 LA $ LIFO $ AVERAGE-COST
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