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The following information relates to inventory purchases and sales of the Golf Co. for July. Selling price Dates Transactions Units Unit cost per unit 1-Jul
The following information relates to inventory purchases and sales of the Golf Co. for July. Selling price Dates Transactions Units Unit cost per unit 1-Jul Beginning inventory 20 6 9-Jul Purchase 30 8 12-Jul Sale 25 20 25-Jul Purchase 5 16 29-Jul Sale 15 20 Instructions: Compute the cost of the ending inventory and the cost of goods sold for July under the following method (just the number, no $ sign): 1. FIFO Cost of ending inventory Cost of goods sold 1240 2. LIFO Cost of ending inventory Cost of goods sold 3. Weighted average Cost of ending inventory Cost of goods sold
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