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Starling Sweaters Company uses the periodic inventory system. Starling had the following inventory purchases during the year: Date # of units Cost per Unit Total
Starling Sweaters Company uses the periodic inventory system. Starling had the following inventory purchases during the year: Date # of units Cost per Unit Total Cost 1-1 100,000 $4 $400,000 3-1 150,000 $5 $750,000 6-1 200,000 $6 $1,200,000 9-1 300,000 $7 $2,100,000 Total 750,000 $4,450,000 During the year 600,000 units were sold. The ending inventory is 150,000 units. Required: Calculate cost of goods sold and ending inventory using first in first out, last in first out, and weighted average.
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