Calculate the three Inventory methods

Purchase Date

Quantity

Price

Total

Begin

100

*

$20

=

$2,000

850 units were used during this inventory count

Mar 15

300

*

$24

=

$7,200

July 20

200

*

$25

=

$5,000

Sep 4

300

*

$28

=

$8,400

Dec 2

100

*

$30

=

$3,000

1,000

$25,600

Using FIFO

Ending Inventory

Cost of Goods Sold

Using LIFO

Ending Inventory

Cost of Goods Sold

Using Weighted Average

Total Costs

=

Total Units

Ending Inventory

Ending Inventory

Cost of Goods Sold

Cost of Goods Sold

Calculate the three Inventory methods

Purchase Date

Quantity

Price

Total

Begin

100

*

$20

=

$2,000

850 units were used during this inventory count

Mar 15

300

*

$24

=

$7,200

July 20

200

*

$25

=

$5,000

Sep 4

300

*

$28

=

$8,400

Dec 2

100

*

$30

=

$3,000

1,000

$25,600

Using FIFO

Ending Inventory

Cost of Goods Sold

Using LIFO

Ending Inventory

Cost of Goods Sold

Using Weighted Average

Total Costs

=

Total Units

Ending Inventory

Ending Inventory

Cost of Goods Sold

Cost of Goods Sold