Question
units cost/unit total cost
beginning inventory 1,000.00 10.00 10,000.00
1/15/2014 500.00 11.00 5,500.00
3/30/2014 2,000.00 15.00 30,000.00
4/15/2014 800.00 14.00 11,200.00
5/29/2014 3,000.00 16.00 48,000.00
6/28/2014 1,200.00 15.50 18,600.00
goods available for sale 8,500.00113,300.00
sales units
1/20/2014 600.00
4/1/2014 1,500.00
5/10/2014 1,200.00
6/21/2014 1,300.00
total sales 4,600.00
ending inventory units 3,900.00
Using the perpetual inventory system, please calculate both endinginventory and cost of goods sold :
a. FIFO b. LIFO c. Moving/weighted average