Calculate the dollar ending inventory if first in first out

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Reference no: EM13395486

Tony Merchandise Company has the following information for the month of February:

Feb. 2	Beginning inventory	20	units	@	$12	per unit
Feb. 5	Purchase	20	units	@	$16	per unit
Feb. 8	Sale	12	units
Feb. 21	Purchase	12	units	@	$18	per unit
Feb. 25	Sale	14	units

Answer the following questions for Tony Merchandise Company:

Calculate the dollar ending inventory if first in, first out (FIFO) is used.
Calculate the cost of goods sold if LIFO is used.
Calculate the dollar ending inventory if weighted average is used.

Reference no: EM13395486

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