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The units of Product Green-2 available for sale during the year were as follows: April 1 Inventory 15 units @ $30 June 16 Purchase 29
The units of Product Green-2 available for sale during the year were as follows:
April | 1 | Inventory | 15 units | @ | $30 |
June | 16 | Purchase | 29 units | @ | $33 |
Sep. | 28 | Purchase | 45 units | @ | $35 |
There are 17 units of the product in the physical inventory at September 30. The periodic inventory system is used.
Determine the cost of merchandise sold by (a) FIFO, (b) LIFO, and (c) average cost methods. In your computations, round the average cost per unit to two decimal places and round your final answer to two decimal places.
a. FIFO | $ |
b. LIFO | $ |
c. Average | $ |
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