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The accounting records of Dexter Company & Co. show the following data: Beginning Inventory 5000 units at $3 Purchases 7000 units at $4 Sales 8000

The accounting records of Dexter Company & Co. show the following data:

Beginning Inventory 5000 units at $3

Purchases 7000 units at $4

Sales 8000 units at $14

Determine the costs of the goods sold during the period under the periodic inventory system using:

A) The FIFO Method

B) The LIFO Method

C) The AVERAGE cost method.

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