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XYZ Market had the following inventory information: Beginning inventory 6 units @ $10 $ 60 First Purchase 5 units @ 12 $60 Second Purchase 4
XYZ Market had the following inventory information:
Beginning inventory 6 units @ $10 $ 60
First Purchase 5 units @ 12 $60
Second Purchase 4 units @ 15 $60
Goods Available 15 units $180
Sold 6 units
Ending Inventory 9 units
A) Using Periodic, FIFO, compute ending inventory and cost of goods sold.
B) Show your work. Using Periodic, LIFO, compute ending inventory and cost of goods sold. Show your work.
C) Using Periodic, Weighted Average, compute ending inventory and cost of goods sold. Show your work.
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