Question
Wong's Trading Cards, Inc, had the following purchases in the month of April. Wong's Trading Card Inventory Purchases Date Activity 04/01 Purchase 04/10 Purchase
Wong's Trading Cards, Inc, had the following purchases in the month of April. Wong's Trading Card Inventory Purchases Date Activity 04/01 Purchase 04/10 Purchase 04/22 Purchase Number of Units Cost per Unit Total Cost 2,000 $10 $20,000 3,000 $12 $36,000 1,500 $16 24,000 On April 30, Wong sells 4,000 units for $20 unit. Note: For Question 2 there is only 4,000 units sold during April. Do not include sale information from Question 1. What is Wong's Cost of Goods Sold (COGS) using the FIFO method of inventory valuation? 44,000 1 What is Wong's COGS using the LIFO method of inventory valuation? What is Wong's Cost per Unit using the Weighted Average method of inventory valuation? (round to two decimal places) What is Wong's COGS using the Weighted Average method of inventory valuation?
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