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Compute the ending inventory and cost of goods sold

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Reference no: EM133078472

Question - The inventory data for an item for November are:

Nov. 1 Inventory 20 units at $19

Nov. 4 Sold 10 units

Nov. 10 Purchased 30 units at $20

Nov. 17 Sold 20 units

Nov. 30 Purchased 10 units at $21

Required - Using a perpetual system compute the following:

1. Compute the Ending inventory and Cost of Goods Sold using the Weighted-average cost method?

2. Compute the Ending inventory and Cost of Goods Sold using the FIFO method?

3. Compute the Ending inventory and Cost of Goods Sold using the LIFO method?

Reference no: EM133078472

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