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The inventory data for an item for November are: Nov. 1 Inventory 20 units at $19 4 Sold 10 units 10 Purchased 30 units at
The inventory data for an item for November are:
Nov. 1 | Inventory | 20 units at $19 |
4 | Sold | 10 units |
10 | Purchased | 30 units at $20 |
17 | Sold | 20 units |
30 | Purchased | 10 units at $21 |
Using a perpetual system compute the following:
1. Ending inventory and Cost of Goods Sold using the Weighted-average cost method (rounded) is:
2. Ending inventory and Cost of Goods Sold using the FIFO method is:
3. Ending inventory and Cost of Goods Sold using the LIFO method is:
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