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Wildhorse Co. had a beginning inventory on January 1 of 308 units of Product 4-18-15 at a cost of $19 per unit. During the year,
Wildhorse Co. had a beginning inventory on January 1 of 308 units of Product 4-18-15 at a cost of $19 per unit. During the year, the following purchases were made. Mar. 15 July 20 820 units 513 units at at $22 $23 Sept. 4 Dec. 2 718 units 205 units at at $25 $28 2,050 units were sold. Wildhorse Co. uses a periodic inventory system. (62) Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to 0 decimal places, e.g. 1,250.) FIFO AVERAGE-COST LIFO The ending inventory s The cost of goods sold
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