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Use the below chart to calculate the next four question: Oct 1 Beginning Inventory: 10units, $7 per unit Oct 3 Purchase: 30units, $8 per unit
Use the below chart to calculate the next four question:
Oct 1 Beginning Inventory: 10units, $7 per unit
Oct 3 Purchase: 30units, $8 per unit
Oct 5 Purchase: 10units, $10 per unit
Oct 6 Sales: (35units)
7.) What would be ending inventory under LIFO? A.) $110
B.)$300
C.) $270
D.) $140
8.) What is the total Cost of goods available for sale in $?
A.) $50
B.) $410
C.) $350
D.) $400
9.) What is the Cost of goods sold using weighted average in $?
A.) $287
B.) $278
C.) $583.3
D.) $123
10.) What is beginning inventory in $?
A.) $410
B.) $35
C.) $240
D.) $70
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