Beginning inventory and purchases data for widgets are as follows: April 1 Inventory 11 Purchase...
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Beginning inventory and purchases data for widgets are as follows: April 1 Inventory 11 Purchase hase 15 units530 12 units $2 S25 7 units The company uses a periodic inventory system. A physical count on April 30 revealed that 6 units were left in ending inventory. Calculate the value of ending inventory and the cost of goods sold as of April 30 using (a) weighted average, (b) FIFO, and (c) LIFO. Complete the table below. NOTE: for weighted average cost use round to 2 decimal places. Method Ending Inventory (S) Cost of Goods Sold (S) Weighted Average FIFO LIFO Show your work below
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