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Units Unit Cost Total Cost Beginning Inventory 160,000 $2,00 Purchase #1 60,000 $2.25 Purchase #2 60,000 $1.90 Ending Inventory 30,000 Replacement cost on market $2.20
Units | Unit Cost | Total Cost | ||||||
Beginning Inventory | 160,000 | $2,00 | ||||||
Purchase #1 | 60,000 | $2.25 | ||||||
Purchase #2 | 60,000 | $1.90 | ||||||
Ending Inventory | 30,000 | |||||||
Replacement cost on market | $2.20 | |||||||
2. Complete the following table ALL CALCULATIONS must be indicated via EXCEL formulas
Method:Ending Inventory:$ COGS:
$FIFO
LIFO
Average Cost
My question is what formula do I use to find the ending inventory and cost of goods sold for lifo, fifo, and average cost?
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