Uses of Accounting Information

Please answer all 3 questions!

1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Saxton Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Saxton Company sold a total of 19,800 units during the year. Quantity Unit Cost 2,000 $ 8.00 Beginning inventory Purchases during year 18,000 $ 10.00