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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 10 units at $970 each June 9 Purchase

The units of an item available for sale during the year were as follows:

Jan. 1

Inventory

10 units at $970 each

June 9

Purchase

45 units at $960 each

/ a. Inventory,

July 28

Purchase

30 units at $890 each

$22,700

Nov. 1

Purchase

15 units at $920 each

There are 25 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form:

Inventory Method

  1. First-in, first-out
  2. Last-in, first-out
  3. Weighted average

Ending

Inventory

$

Cost of

Goods Sold

$

image text in transcribed
Ob]. 6 E6-13 Inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: SHOW ME HOW a. Inventory. $22,700 There are 25 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form

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