Question
Zambian Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Date
Zambian Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 30 9 270 15 Purchase 22 11 242 24 Purchase 38 12 456 Total 90 968 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and average-cost methods. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 125.) The ending inventory at May 31 Cost of goods sold FIFO Average-Cost
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