Inventory Costing Methods-Perpetual Method The Lippert Company uses the perpetual inventory system. The following...
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Inventory Costing Methods-Perpetual Method The Lippert Company uses the perpetual inventory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory 15,330 units @ $3 per unit 10 Purchased 15,350 units @ $4 per unit 15 Sold 15,360 units @ 26 Purchased 15,325 units @ $5 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar. For weighted-average cost, do not round the weighted-average unit cost. A. First-in, First-out: Cost of Goods Sold: $ B. Last-in, first-out: Cost of Goods Sold C. Weighted-average cost: Cost of Goods Sold Check $ $ X 0x 0 x
Inventory Costing Methods-Perpetual Method The uppert Compary uses the perpetual imventory system. The following july data are for an item in Lippert's inventory: Calculate the cost of goods sold for the fuly 15 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar; for weighted-average cost, do not round the weighted-average unit cost
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