Calculate cost of goods sold and ending inventory on march

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Maple company uses the periodic inventory system. The beginning balance of inventory and subsequent inventory purchases made by the company during the month of March 2019 are given below:

March 01: Beginning inventory, 450 units @ $18 per unit.

March 18: Inventory purchased, 600 units @ $20 per unit.

March 25: Inventory purchased, 700 units @ $26 per unit.

The Mark company sold 1,300 units during the month of July.

Required:

Question a: Calculate the cost of goods sold and ending inventory on March 31, 2019 using the following inventory costing methods:

1. First in, first out (FIFO) method

2.Weighted Average cost method

Reference no: EM132576704

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