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Calculate the ending inventory and cost of goods

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Reference no: EM132510024

Below is a summary of the beginning inventory and purchases. A physical count revealed that there were 3,300 units on hand. Use periodic inventory procedure.

Inventory, 1/1 2,100 units at $5.50

Purchases:

February 10 950 units at $5.70

May 4 1,650 units at $5.60

August 21 1,100 units at $5.40

November 8 1,400 units at $5.80

Required:

Question a. Calculate the ending inventory and cost of goods sold using the FIFO method.

Question b. Calculate the ending inventory and cost of goods sold using the LIFO method.

Question c. Calculate the ending inventory and cost of goods sold using the weighted-average method.

Reference no: EM132510024

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