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Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May...

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Accounting

Inventory Costing Methods-Periodic Method
Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory:
\table[[May 1,Beginning inventory,150,units @,$30,per unit],[12,Purchased,100,units @,$35,per unit],[16,Sold,180,units.,,],[24,Purchased,170,units @,$40,per unit]]
Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar.
\table[[A.,First-in, First-out:,],[,Ending Inventory,$
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