Question
The following data are available for Sellco for the fiscal year ended on January 31, 2017: Sales 810unitsBeginning inventory 270units @$4 Purchases, in chronological order
The following data are available for Sellco for the fiscal year ended on January 31, 2017:
Sales 810unitsBeginning inventory 270units @$4 Purchases, in chronological order 310units@$4 430units@$7 2..s@$7
Required:
a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.)
What is the weighted average cost of ending inventory?
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Managerial Accounting
Authors: Wendy M. Tietz, Louis Beaubien, Karen W. Braun
3rd Canadian edition
