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Please explain or show in detail how you get each answer. Thank you! ...

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Accounting

Please explain or show in detail how you get each answer. Thank you!

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Inventory Costing Methods-Periodic Method The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory 30 units $9 per unit 10 Purchased 15 Sold 26 Purchased 50 units @ $10 per unit 60 units 25 units$11 per unit Calculate the cost of goods sold for July and ending inventory at july 31 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 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 cost Ending Inventory Cost of Goods Sold

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