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The college campus bookstore uses a periodic inventory system. The bookstore purchases 400 copies of a textbook at $78 each in June, 955 copies in
The college campus bookstore uses a periodic inventory system. The bookstore purchases 400 copies of a textbook at $78 each in June, 955 copies in August at $80 each, and 630 copies in December at $83 each. The bookstore sold 1,870 copies of the textbook during the year. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. a. FIFO Cost of Goods Sold Ending Inventory b. LIFO Cost of Goods Sold Ending Inventory c. Weighted Average cost method. (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Cost of Goods Sold Ending Inventory
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