Reference no: EM132646289
The following information was available from the inventory records of the Brooks Company for January 2002:
Units Unit cost Total Cost
Balance at January 1, 2002 3,000 19.55 58,650
Purchases:
January 6, 2002 10,200 21.50 219,300
January 26,2002 2,250 20.60 46,350
Sales:
January 7, 2002 2,700
January 31, 2002 7,200
Requirements:
Problem 1: Compute for the (1) Ending inventory and (2) cost of goods sold under each of the following cost flow formulas:
a. FIFO Periodic
b. FIFO Perpetual
c. Weighted Average Cost Periodic
d. Weighted Average Cost Perpetual (Moving Average)