Calculate Cost of Goods Sold and Ending Inventory using the following methods:
Question:
Calculate Cost of Goods Sold and Ending Inventory using the following methods:
FIFO Perpetual
LIFO Perpetual
Weighted Average Perpetual
FIFO Periodic
LIFO Periodic
Weighted Average Periodic
Inventory
Date Activity Units Unit Cost Balance
1-Mar Beginning Balance 250 $14 $3,500
3-Mar Sale (200) - - 0
10-Mar Purchase 200 15 3,000
12-Mar Sale (100) - - 0
15-Mar Purchase 300 16 4,800
21-Mar Purchase 250 20 5,000
23-Mar Sale (100) - - 0
27-Mar Purchase 150 22 3,300
Financial Accounting The Impact On Decision Makers
ISBN: 9781305793194
10th Edition
Authors: Gary A. Porter, Curtis L. Norton