Using the periodic inventory method

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Reference no: EM131510979

The ABC Company has the following inventory records.

2/1 Beginning Balance 5@ $60 $300

2/5 Purchase 20@ $50 $1000

2/10 Sale 21

2/25 Purchase 13@ $30 390

3/10 Purchase 16@ $20 320

3/15 Sale 30

3/19 Purchase 9@ $10 90

Using the periodic inventory method. Compute, for each month separately, February and March, the cost of goods sold, using

a) FIFO

b) LIFO

c) Weighted Average

Reference no: EM131510979

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