Lucas corporation uses the periodic inventory system and

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Reference no: EM13575789

Lucas Corporation uses the periodic inventory system and the following information about their laptop computer is available:

Date	Transaction	Number of Units	Cost per Unit
1/1	Beginning Inventory	50	$ 300
5/5	Purchase	200	$ 320
8/10	Purchase	300	$ 350
10/15	Purchase	200	$ 360

During the year, 600 laptop computers were sold.

What was ending inventory under the FIFO cost flow assumption?
What was Cost of Goods Sold under the LIFO cost flow assumption?
What was Cost of Goods Sold under the Weighted Average cost flow assumption?

Reference no: EM13575789

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