Solution-Calculate cost of goods sold and Ending Inventory

Calculate cost of goods sold and Ending Inventory in units

Reference no: EM133057510

Question - Johnson Corporation is a multi-product firm. The following information concerns one of its products:

Date	Transaction	Quantity	Selling Price/Cost
Jan 1	Beginning Inventory	1,000	$12
Feb 4	Purchase	2,000	18
Feb 20	Sale	2,500	30
Apr 2	Purchase	3,000	23
Nov 4	Sale	2,000	33

Required - Calculate cost of goods sold and Ending Inventory in units and dollars, assuming Johnson uses:

1. A periodic inventory system and FIFO cost formula.

2. A periodic inventory system and weighted average cost formula.

3. A perpetual inventory system and moving average cost formula.

Reference no: EM133057510

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Calculate cost of goods sold and Ending Inventory in units

Reference no: EM133057510

Reference no: EM133057510

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