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Using the following data, compute the value of the ending inventory and cost of goods sold under the inventory valuation methods indicated below. January 1
Using the following data, compute the value of the ending inventory and cost of goods sold under the inventory valuation methods indicated below. January 1 (Beginning Inventory) March purchase July purchase November purchase 10 units @ 50 units a 25 units @ 15 units @ 100 $15.00 per unit $18.00 per unit $20.00 per unit $21.00 per unit =$150.00 = 900.00 = 500.00 = 315.00 $1865.00 Sales took place as follows: 10 units sold in February 10 units sold in June 10 units sold in December 1. The number of units left in ending inventory at December 31 is: 2. Compute the ending inventory value and COGS under the following methods. Show all calculations clearly and round all unit costs to TWO decimals. PERPETUAL LIFO: Ending Inventory: COGS: PERIODIC LIFO Ending Inventory COGS Using the following data, compute the value of the ending inventory and cost of goods sold under the inventory valuation methods indicated below. Where needed, round all calculations to two decimal points January 1 (Beginning Inventory) 10 units @ $15.00 per unit =$150.00 March purchase 50 units @ $18.00 per unit = 900.00 July purchase 25 units a $20.00 per unit = 500.00 November purchase 15 units @ $21.00 per unit = 315.00 100 $1865.00 Sales took place as follows: 10 units sold in February 10 units sold in June 10 units sold in December MOVING AVERAGE METHOD: Ending Inventory: COGS: WEIGHTED AVERAGE METHOD: Ending Inventory: COGS
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