Solution-Determine the amount of cost of goods sold

Determine the amount of cost of goods sold

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Reference no: EM131802456

The inventory records for Radford Co. reflected the following

Beginning Inventory @ May 1	2,000 units @ $5.60
First Purchase @ May 7	2,100 units @ $5.80
Second Purchase @ May 17	2,300 units @ $5.90
Third Purchase @ May 23	1,900 units @ $6.00
Sales @ May 31	6,300 units @ $7.50

9. Required information- Determine the weighted average cost per unit (rounded) for May.

$5.83 $5.77 $5.90 $7.50

10. Required information- Determine the amount of cost of goods sold assuming the LIFO cost flow method.

$37,800 $37,150 $36,540 $35,280

11. Required information- Determine the amount of ending inventory assuming the FIFO cost flow method.

$12,000 $11,990$11,200 $7,100

Reference no: EM131802456

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Determine the amount of cost of goods sold

Reference no: EM131802456

Reference no: EM131802456

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