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Zippy Shoe Company uses a periodic inventory system. Zippy purchased 435 pairs of shoes at $62 each in June, 950 pairs in August at
Zippy Shoe Company uses a periodic inventory system. Zippy purchased 435 pairs of shoes at $62 each in June, 950 pairs in August at $64 each, and 640 pairs in December at $67 each. Zippy sold 1,890 pairs of shoes during the year. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. a. FIFO b. LIFO c. Weighted Average
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