The following information is for Fair Trader Company for the month of May. Fair Trader uses a perpetual invento

May $110$ units were purchased at $$30$ per unit

May $520$ units were purchased at $$32$ per unit

May $625$ units were sold for $$50$ per unit

May $1220$ units were purchased at $$40$ per unit

May $2325$ units were purchased at $$44$ per unit

May $2820$ units were sold for $$50$ per unit

Required:

Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.

a$.$ FIFO

b$.$ LIFO

c$.$ Weighted Average Calculate the company's ending inventory and cost of goods sold using the LIFO inventory costing method.The following information is for Fair Trader Company for the month of May. Fair Trader uses a perpetual inventory system:

Required:

Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.

a$.$ FIFO

b$.$ LIFO

c$.$ Weighted Average

Complete this question by entering your answers in the tabs below.

Calculate the company's ending inventory and cost of goods sold using the LIFO inventory costing method.

Ending Inventory

Cost of Goods Sold