Question

Megan’s Garden Shop maintains an inventory of mower blades on a periodic basis. Purchases of the blades during the year are as follows:
Jan. 1 Inventory of 30 units @ $ 215 each.
Mar. 8 Purchased 20 units @ $ 220 each.
May 15 Purchased 15 units @ $ 225 each.
30 Purchased 20 units @ $ 228 each.
The ending inventory, by physical count, is 52 units. Determine the value of the ending inventory and the cost of goods sold by the following methods: weighted- average- cost; first- in, first- out; and last- in, first- out. (Round all computations to two decimal places.)



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  • CreatedOctober 21, 2014
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