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The Midori Cabinet Company sold 2,200 cabinets during 2022 at $160 per cabinet. Their January beginning inventory and subsequent purchases were: January 130 cabinets @
The Midori Cabinet Company sold 2,200 cabinets during 2022 at $160 per cabinet. Their January beginning inventory and subsequent purchases were: January 130 cabinets @ \$56 February 225 cabinets @ \$62 April 350 cabinets @ \$65 June 700 cabinets @ \$70 August 300 cabinets@ \$66 October 400 cabinets@ \$68 November 250 cabinets @ \$72 Prepare a schedule to compute the costs of goods available for sale. Compute ending inventory and Cost of Goods Sold under: a) average-cost method b) the FIFO method
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