Zippy Shoe Company uses a periodic inventory system. Zippy purchased pairs of shoes at $ each in June, pairs in August at $ each, and pairs in December at $ each. Zippy sold pairs of shoes during the year.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.
a FIFO
b LIFO
c Weighted Average
Complete this question by entering your answers in the tabs below.
Required A Required C
Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method.
Cost of Goods Sold
Ending Inventory
Zippy Shoe Company uses a periodic inventory system. Zippy purchased pairs of shoes at $ each in June, pairs in August at $ each, and pairs in December at $ each. Zippy sold pairs of shoes during the year.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.
a FIFO
b LIFO
c Weighted Average
Complete this question by entering your answers in the tabs below.
Required A Required Required
Calculate the company's ending inventory and cost of goods sold using the LIFO inventory costing method.
Cost of Goods Sold
Ending Inventory
Zippy Shoe Company uses a periodic inventory system. Zippy purchased pairs of shoes at $ each in June, pairs in August at $ each, and pairs in December at $ each. Zippy sold pairs of shoes during the year.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.
a FIFO
b LIFO
c Weighted Average
Complete this question by entering your answers in the tabs below.
Required A Required Required
Calculate the company's ending inventory and cost of goods sold using the Weighted Average inventory costing method. Round your intermediate calculations to decimal places and final answers to the nearest dollar amount.
Cost of Goods Sold
Ending Inventory