Question

Accalia Company, using the periodic inventory system, began the year with 300 units of product B in inventory with a unit cost of $38. The following additional purchases of the product were made:
Apr. 1 ..... 320 units @ $45 each
July 5 ..... 400 units @ 66 each
Aug. 15 .... 480 units @ 65 each
Nov. 20 .... 100 units @ 70 each
At end of year, Accalia Company had 510 units of its product unsold.
Calculate cost of ending inventory as well as cost of goods sold by the
(a) FIFO,
(b) LIFO,
(c) weighted-average methods. (Round the weighted average to the nearest cent.)



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  • CreatedApril 24, 2014
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