Question
Zellenger uses a periodic inventory system and had the following data for inventory during the most recent year: Date Units Cost per unit Extension January
Zellenger uses a periodic inventory system and had the following data for inventory during the most recent year: Date Units Cost per unit Extension
January 1 Beginning inventory 400 $7.00
January 22 Purchase 1,200 7.15
March 14 Purchase 1,100 7.20
May 24 Purchase 1,000 7.30
October 2 Purchase 1,800 7.35 - various - Sales 4,300
December 31 Ending inventory 1,200
Calculate the company's ending inventory and cost of goods sold under the following inventory cost flow methods:
A) FIFO ending inventory: $
cost of goods sold: $
B) LIFO ending inventory: $
cost of goods sold: $
C) Average Cost ending inventory: $
cost of goods sold: $
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