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Sully Company's inventory records for the most recent year contain the following data: E (Click the icon to view the data.) Sully Company sold a
Sully Company's inventory records for the most recent year contain the following data: E (Click the icon to view the data.) Sully Company sold a total of 21,100 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.) Average-cost method cost of goods sold = Average-cost method ending inventory = Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. FIFO method cost of goods sold = FIFO method ending inventory = Requirement 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. LIFO method cost of goods sold = LIFO method ending invetory = Data Table Quantity Unit Cost 7,000 $ 14.00 Beginning inventory Purchases during year 18,000 $ 16.00 Print Done
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