10A. Read Books has the following transactions in August related to merchandise inventory: (Click the...
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Accounting
10A. Read Books has the following transactions in August related to merchandise inventory: (Click the icon to view the transactions.) Read the a., b., and c. Determine the cost of goods sold and ending merchandise inventory using the (a) FIFO inventory costing method, (b) LIFO inventory costing method, and (c) weighted-average inventory costing method assuming Read Books uses the periodic inventory system. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Aug.1Aug.3Aug.12Aug.15Aug.20Aug.28Beginningmerchandiseinventory,16books@$17eachSold5books@$22eachPurchased13books@$20eachSold14books@$22eachPurchased2books@$24eachSold6books@$23each
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