Accounting 4. During June, the following changes in inventory item A...
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Accounting
Accounting
4. During June, the following changes in inventory item A took place: 1-Jun Balance 8 Sold 10 Purchased 14 Sold 24 Purchased 2,000 units @ $35 800 units @ $50 1,800 units @ $36 900 units @ $50 1,500 units @ $37 Instructions What is the cost of goods sold and the ending inventory for item A under the following methods ? (Show calculations.) A. Periodic (a) FIFO (b) LIFO (c) Ave. Cost B. Perpetual (a) FIFO (b) LIFO (c) Ave. Cost
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