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The following purchases and sales for Ripple are for January, 2012. There was beginning Company inventory on January 1, 2012 Required 1. Using the periodic
The following purchases and sales for Ripple are for January, 2012. There was beginning Company inventory on January 1, 2012 Required 1. Using the periodic inventory system, calculate the ending inventory and the cost of goods sold using the following methods: FIFO, LIFO, and average cost. 2. Using the perpetual inventory system, calculate the ending inventory and the cost of goods sold using the following methods: FIFO, LIFO, and average cost. Round average cost to two decimal points
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