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Spencer Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Spencer Company sold a total
Spencer Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Spencer 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 $ and the ending inventory is $ i 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 $ and the ending inventory is $ . Requirement 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Quantity Unit Cost Beginning inventory 2,000 $ 8.00 Using the LIFO method, the cost of goods sold is $ and the ending inventory is $0 Purchases during year 18,000 $ 10.00 Print Done
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