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Compute the cost of ending inventory

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Reference no: EM132916343

Question - Dexter Company reported the following information for the month of February:

Inventory, Feb. 1. 65 Units @$120

Purchases:

Feb. 7 50 Units @$22

Feb. 18 60 Units @$23

Feb. 27. 45 Units @$24

During February, Dexter sold 155 units and has 65 units left on hand at the end of the month.

Required - Please compute the cost of ending inventory and cost of goods sold under:

1. weighted average cost method

2. FIFO

3. LIFO

If you are the Vice President of finance for Dexter Company, which inventory costing method would you choose? Why?

Reference no: EM132916343

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