Using the data from SE5-14B, calculate the cost of goods sold and the cost of the ending inventory using the FIFO periodic cost flow assumption.

In SE5-14B, Calculate the cost of goods sold and the cost of the ending inventory using the weighted average cost flow assumption. Assume periodic record keeping.

Sales ...............150 units at $5 per unit

Beginning inventory .........100 units at $2 per unit

Purchases .............. 60 units at $3 per unit