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Swifty Company had 100 units in beginning inventory at a total cost of $12,000. The company purchased 200 units at a total cost of
Swifty Company had 100 units in beginning inventory at a total cost of $12,000. The company purchased 200 units at a total cost of $30,000. At the end of the year, Swifty had 66 units in ending inventory. Swifty Company uses a periodic inventory system. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to O decimal places, e.g. 1,250.)
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