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The following information is available from ABC co.'s inventory records for March 2020. # of units unit costs unit price March 1, 2020 2,000 $10
The following information is available from ABC co.'s inventory records for March 2020.
# of units | unit costs | unit price | |
March 1, 2020 | 2,000 | $10 | |
Purchases on 3/5 | 3,000 | 11 | |
Sales on 3/10 | 4,000 | $20 | |
Purchase on 3/15 | 6,000 | 12 | |
Sales on 3/25 | 5,000 | $20 |
Instructions: Compute the costs of goods sold for March 2020 using the following methods.
a) FIFO with perpetual inventory.
b) Weighted average. (Periodic system).
c) Moving average. (Perpetual system).
d) LIFO with periodic inventory.
e) LIFO with perpetual inventory.
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