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Top Radios Inc. provided the following data regarding its radio purchases and sales over last year. January 1 Beginning inventory of 1,000 radios at a
Top Radios Inc. provided the following data regarding its radio purchases and sales over last year.
January 1 | Beginning inventory of 1,000 radios at a cost of $300 each |
March 1 | Purchase of 1,000 radios at a cost of $320 each |
July 1 | Purchase of 500 radios at a cost of $325 each |
December 31 | Ending inventory of 1,200 radios |
The COGS for Top Radios Inc. was:
Group of answer choices
a. Higher under LIFO than using the weightedaverage cost method.
b. Higher using the weightedaverage cost method than under LIFO.
c. Higher under FIFO than using LIFO.
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