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The following information is available concerning the inventory of Harvey Company in 2019: Unit Cost Units 1,960 $ 5 Beginning Inventory During 2019: Purchase, March
The following information is available concerning the inventory of Harvey Company in 2019: Unit Cost Units 1,960 $ 5 Beginning Inventory During 2019: Purchase, March 21 Purchase, August 1 Ending Inventory 5,150 2,930 4,190 7 8 Required: 1. Compute the dollar amount of ending inventory under the FIFO method. 2. Compute the dollar amount of cost of goods sold under the LIFO method. 3. Compute the dollar amount of cost of goods sold under the Average Cost method (Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount.) FIFO LIFO Average Cost Ending inventory Cost of goods sold
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