Problem #6 At the beginning of the current period, DHL Industries, which uses a periodic...
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Problem #6 At the beginning of the current period, DHL Industries, which uses a periodic inventory system, has 125 units of a product with a unit cost of $15. The inventory records report the following transactions: Unit Cost $17 Purchase #1 Purchase #2 Purchase #3 Units 160 90 65 Cost 2,720 1,710 1,365 $19 $21 During the current period, DHL sells 350 units. [Show your work for partial credit.) a. Assume DHL uses the FIFO method - compute the cost of goods sold and the ending inventory balance for this product. Cost of Goods Sold: $ Ending Inventory: $ b. Assume DHL uses the LIFO method -compute the cost of goods sold and the ending inventory balance for this product. Cost of Goods Sold: $_ Ending Inventory: $ c. Assume DHL uses the Weighted Average method -compute the cost of goods sold and the ending inventory balance for this product. Cost of Goods Sold: $ Ending Inventory: $
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