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



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