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Wildhorse Co.uses a periodic inventory system. Its records show the following for the month of May, in which 120 units were sold. Unit Cost Units
Wildhorse Co.uses a periodic inventory system. Its records show the following for the month of May, in which 120 units were sold. Unit Cost Units Total Cost May 1 Inventory 56 $11 $616 15 Purchases 46 14 644 24 Purchases 65 15 975 Totals 167 $2,235 Compute the ending inventory at May 31 and cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.) FIFO LIFO Average-cost Ending inventory at May 31 $ 705 $ 517 $ 615.629 Cost of goods sold $ 1530 $ 1718 605.988
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