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Sunland Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year, purchases were:
Sunland Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year, purchases were: Sunland Company uses a periodic inventory system. Sales totaled 1,500 units. (a). (b) Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.) Sunland Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year, purchases were: Sunland Company uses a periodic inventory system. Sales totaled 1,500 units. (a). (b) Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.)
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