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The following represents the inventory of Benita Company for the month of April. April 1 Beginning Inventory 100 units @ $16 April 2 Sales 50
The following represents the inventory of Benita Company for the month of April. April 1 Beginning Inventory 100 units @ $16 April 2 Sales 50 units April 3 Purchases 300 units @ $24 April 10 Sales 250 units April 21 Purchases 400 units @ $32 April 28 Sales 200 units Assuming a periodic inventory system is used by Benita Company, what is ending inventory under LIFO? A) $ 9,600 B) $13,200 C) $ 6,400 D) $ 8,400 Assuming a periodic inventory system is used by Benita Company, what is cost of goods sold under FIFO? A) $ 8,400 B) $ 9,600 C) $13,200 D) $12,000 Assumina a periodic inventory system is used by Benita Company, what is ending inventory Weighted Average Cost method? A) $ 9,256 B) $15,500 C) $,8,100 D) $13,500
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