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The inventory records of ZUP indicate the following regarding its best-selling product for the month of January: Unit cost $4.00 3.70 Opening inventory Purchase 1
The inventory records of ZUP indicate the following regarding its best-selling product for the month of January: Unit cost $4.00 3.70 Opening inventory Purchase 1 Sale 1 Purchase 2 Sale 2 Ending inventory Units 6,000 4,000 3,600) 8,000 5,000 9.400 2.80 Required: Calculate the dollar amount of ending inventory and cost of goods sold under each of the following cost flow assumptions: a. Weighted average cost, periodic inventory b. First-in, first-out (FIFO), perpetual inventory. c. Weighted average cost perpetual inventory
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