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Three identical units of merchandise were purchased during July, as follows: Assume one unit sells on July 28 for $52. Beginning inventory, purchases, and sales
Three identical units of merchandise were purchased during July, as follows: Assume one unit sells on July 28 for $52. Beginning inventory, purchases, and sales data for T-shirts are as follows: Assuming the business maintains a periodic inventory system, determine the cost of goods sold and ending inventory using the following methods: a. FIFO b. LIFO c. Weighted average cost In your computations, round the average cost per unit to two decimal places and round your final answers to the nearest dollar
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