Cost assigned to ending inventory and to cost of goods sold

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Reference no: EM13916645

Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 600 units-200 from each of the last three purchases.

Jan.	1	Beginning inventory	300	units	@ $4.00	=	$	1,200
Mar.	7	Purchase	640	units	@ $4.25	=		2,720
July	28	Purchase	1,280	units	@ $5.00	=		6,400
Oct.	3	Purchase	1,160	units	@ $7.00	=		8,120
Dec.	19	Purchase	720	units	@ $8.90	=		6,408

		Totals	4,100	units			$	24,848


Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round weighted average per unit costs and round your answers to 2 decimal places.)
Ending Inventory Cost of Goods Sold (a)Specific identification (b)Weighted average (c)FIFO (d)LIFO

Reference no: EM13916645

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