Suppose a technology company's inventory records for a particular computer chip indicate the following at October 31:

The physical count of inventory at October 31 indicates that 8 units of inventory are on hand.
Requirements
Compute ending inventory and cost of goods sold using each of the following methods.
Round all amounts to the nearest dollar.
1. Specific unit cost, assuming four $160 units and four $170 units are on hand
2. Weighted-average cost
3. First-in, first-out cost

Transcribed Image Text:

5units @$160 $ 800 ー640 11 units 1701,870 5 units 180 900 Oct. 1 Beginning inventory. Purchase Purc Purchase 4 units 160 15 26