Periodic inventory by three methods; cost of goods sold The units of an item available...
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Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 50 units at $126 Mar. 10 Purchase 60 units at $136 Aug. 30 Purchase 30 units at $144 Dec. 12 Purchase 60 units at $148 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculations
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