The following data are for the Cracker Corporation, which sells just one product: Units Unit...
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Accounting
The following data are for the Cracker Corporation, which sells just one product: Units Unit Cost $18 19 20 23 Beginning Inventory, January 11,200 Purchases: February 11 May 18 October 23 March 1 July 1 1,500 1,400 1,100 1,400 1,400 October 29 1,000 Sales: Calculate the value of ending inventory and cost of goods sold for the year using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Round the cost per unit to 3 decimal places and 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 Ending Inventory $ Cost of goods sold $ 31,300 72,100 25,400 78,000 28,000 * 75,400 x
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