Brief Exercise Algorithmic
Inventory Costing Methods
Tyler Company has the following information related to purchases and sales of one of its inventory items.
tableDateDescription,Units Purchased at Cost,Units Sold at ReSeptBeginning inventory, units @ $SeptPurchase, units @ $SeptSales,,SeptPurchase, units at $
Assume the company uses a perpetual inventory system.
Required:
Calculate ending inventory and cost of goods sold using the FIFO, LIFO, and average cost methods.
FIFO
LIFO
$
$
Avg Cost
$
$
