The inventory records of Acme Appliances Limited showed the following data relative to a food processor in inventory (the transactions occurred in the order given):

Required:

Compute the cost of goods sold for the period and the ending inventory, assuming the following (round unit costs to nearest cent):

1. Weighted average (periodic inventory system)

2. Moving average (perpetual inventory system)

3. FIFO

Transcribed Image Text:

Transaction Units Unit Cost $19.00 1. Inventory 2. Purchase 3. Sale 4. Purchase 5. Sale 6. Purchase 30 45 50 50 50 50 20.00 20.80 21.60