Solution-Compute cost of goods sold and ending inventory

Compute cost of goods sold and ending inventory

Reference no: EM133155819

Question - The inventory records of Urban Inc. show the following data for its merchandise inventory.

Date	Units	Unit Cost
Jan 1 Inventory	60	$38.00
Jan 3 Purchase	90	40.00
Jan 7 Sale	100
Jan 10 Purchase	100	41.60
Jan 20 Sale	100
Jan 30 Purchase	100	43.20

Required - Compute cost of goods sold and ending inventory for the month ending January 31 using the average cost method (periodic inventory system) and the moving average method (perpetual inventory system).

Reference no: EM133155819

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Compute cost of goods sold and ending inventory

Reference no: EM133155819

Reference no: EM133155819

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