QUESTION 6 Not complete Points out of 1.00 Flag question Inventory Costing Methods-Periodic Method The...
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QUESTION 6 Not complete Points out of 1.00 Flag question Inventory Costing Methods-Periodic Method The following information is for the Bloom Company for 2012: the company sells just one product: Units Unit Cost $170 $174 176 180 Beginning Inventory 200 Feb. 11 500 May 18 400 Oct. 23 100 Purchases: At December 31, 2012, there was an ending inventory of 360 units. Assume the use of the periodic inventory method. Calculate the value of ending inventory and the cost of goods sold for the year using (a) first-in, first-out. (b) last-in, first-out, and (c) the weighted-average cost method Do not round until your final answers. Round your 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 Ending Inventory Cost of goods sold
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