Solution-Compute ending inventory and cost of goods sold

Compute ending inventory and cost of goods sold

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Reference no: EM13342444

A company uses a periodic inventory system. At the end of the annual accounting period, December 31, the accounting records provided the following information for a product.

	Units	Unit Cost
Inventory, December 31 Year 1	2,000	$4
For the current year:
Purchase , April 11	5,000	$6
Purchase, June 1	3,000	$9
Inventory, December 31 Year 2	4,000

Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods.

Reference no: EM13342444

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Compute ending inventory and cost of goods sold

Reference no: EM13342444

Reference no: EM13342444

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