Question
You have the following information forIndigo Corporationfor the month ended October 31, 2017.Indigo Corporationuses a periodic method for inventory. Date Description Units Unit Cost or
You have the following information forIndigo Corporationfor the month ended October 31, 2017.Indigo Corporationuses a periodic method for inventory.
Date
Description
Units
Unit Cost or Selling Price
Date Description Units Unit cost or selling price
Oct. 1 Beginning inventory 63 $23
Oct. 9 Purchase 124 25
Oct. 11 Sale 102 34
Oct. 17 Purchase 108 26
Oct. 22 Sale 58 39
Oct. 25 Purchase 72 28
Oct. 29 Sale 102 39
Calculate the weighted-average cost.(Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average cost per unit$
enter the weighted-average cost per unit in dollars rounded to 3 decimal places
Calculate ending inventory, cost of goods sold, gross profit under each of the following methods.
(1) LIFO.
(2) FIFO.
(3) Average-cost.(Round answers to 0 decimal place, e.g. 125.)
LIFO
FIFO
AVERAGE-COST
enter a dollar amount rounded to 0 decimal places
$
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