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SOAL 2 - Periodic Inventory System Using FIFO and Average Cost Method Huckleberry Company had a beginning inventory on January 1 of 950 units of
SOAL 2 - Periodic Inventory System Using FIFO and Average Cost Method Huckleberry Company had a beginning inventory on January 1 of 950 units of Product A at a cost of $55 per unit. During the year, the following purchases were made. Units Units Cost April 24 250 $42 June 13 350 $48 October 9 220 $40 November 28 180 $38 December 20 500 $50 On 26 December, 1,750 units were sold for $70. Huckleberry Company uses a periodic inventory system. a. Determine the cost of goods available for sale using table b. Determine the Ending inventory and COGS under the two assumed cost flow methods (FIFO and average - cost)
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