Compute cost of goods sold and ending inventory

Reference no: EM13765150

Nelson Company had 1,000 units in beginning inventory at a total cost of $15,250. The company purchased 2,000 units at a total cost of $26,000. At the end of the year, Nelson Company had 800 units in ending inventory.

1. Compute Cost of Goods Sold and Ending Inventory assuming FIFO is used.

2. Compute Cost of Goods Sold and Ending Inventory assuming LIFO is used.

3. Compute Cost of Goods Sold and Ending Inventory assuming Weighted Average/Average Cost is used.

Reference no: EM13765150

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