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Thompson LLC uses the periodic inventory system. The following table shows beginning inventory and inventory purchases for 2014. Units Cost per unit Totals Beginning
Thompson LLC uses the periodic inventory system. The following table shows beginning inventory and inventory purchases for 2014. Units Cost per unit Totals Beginning Inventory 1,520 $10 15,200 March 17 912 $11 10,032 June 9 730 $12 October 19 1,277 $13 8,760 16,601 Thompson LLC sold 2,541 units for $18 each. Required: Fill in the following table with amounts for Cost of Goods Sold for 2014 based on the FIFO, LIFO, and weighted-average inventory valuation methods. You may round your final answer to the nearest dollar. FIFO 26,540 Cost of Goods Sold ($) LIFO 31,235 Weighted-Average 28,961
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