Calculate the number of pen sets in stock

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Question - Writing has a beginning inventory of 16 sets of pens at a cost of $2.12 each. During the year, Writing purchased 8 sets at $2.15, 9 sets at $2.25, 14 sets at $3.05, and 13 sets at $3.20. By the end of the year, 29 sets were sold.

a. Calculate the number of pen sets in stock.

b. Calculate the cost of ending inventory under LIFO, FIFO, and weighted-average methods.

Reference no: EM132930805

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