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The ABC Company had the following inventory record for the month of January: # of Unit Date Description Items Price Item 1/1 Beginning inventory 5

The ABC Company had the following inventory record for the month of January:

# of

Unit

Date

Description

Items

Price

Item

1/1

Beginning inventory

5

$20

Z1, Z2, Z3, Z4, Z5

1/5

Sale

2

Z2, Z5

1/11

Purchase

9

12

Z6, Z7, Z8, Z9, Z10, Z11, Z12, Z13, Z14

1/28

Sale

7

Z1, Z3, Z6, Z7, Z8, Z9, Z14

Required:

Assuming a perpetual system is in use, determine the cost of goods sold and the ending inventory using each of the following methods:

  1. FIFO
  2. LIFO
  3. Weighted average
  4. NOPDF

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