Inventory Costing Methods - Periodic Method The following information is for the Toon Company for...
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Inventory Costing Methods - Periodic Method The following information is for the Toon Company for 2012; the company sells just one product:
Beginning Inventory an1 200 Feb. 11 500 May 18 400 Oct. 23100 March 1 400 July 1 400 Units Unit Cost $18 $19 21 24 Purchases Sales: Calculate the value of ending inventory and cost of goods sold using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Do not round until your final answers. Round your final answers to the nearest dollar. A. First-in, First-out Ending Inventory Cost of goods sold B. Last-in, first-out Ending Inventory Cost of goods sold C. Weighted Average Ending Inventory Cost of goods sold
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