Inventory by Three Methods; Cost of Goods Sold
The units of an item available for sale during the year were as follows:
Jan. Inventory units at $ each
June Purchase units at $ each
July Purchase units at $ each
Nov. Purchase units at $ each
There are units of the item in the physical inventory at December
Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form:
Round your final answers to the nearest dollar.
Cost
Inventory Method
Ending Inventory
Cost of Goods Sold
a Firstin firstout method
b Lastin firstout method
c Weighted average
