Singh Company sold 75 units @ $350 each on October 31, Year 2. The following information is also available:

Beginning inventory	25 units @ $175
February 2 purchase	20 units @ $180
June 15 purchase	45 units @ $200
October 1 purchase	30 units @ $220

Required: a) Determine the amount of cost of goods sold using: 1) FIFO 2) LIFO 3) Weighted Average

b) Determine the amount of ending inventory using: 1) FIFO 2) LIFO 3) Weighted Average

Answer rating: 100% (QA)

Answer To solve this problem we need to calculate the cost of goods sold and the ending inventory us... View the full answer