Globe Company uses the perpetual inventory system. Globe Company has beginning inventory on December 1 of 225 units at $ 35. Data pertaining to the purchases and sales during the month are as follows:

Required
1. Determine the cost of goods sold for December and the cost of the inventory on December 31 by the moving-average-cost method. (Round to two decimal places.)
2. Determine the cost of goods sold for December and the cost of the inventory on December 31 by the last-in, first-outmethod.

Transcribed Image Text:

Purchases Sales Date Unts Cost per Unit Units Price per Unit Dec. 2 10 15 20 30 $36.00 25 $60.00 20 37.00 60 75 60.00 60.00 30 45 38.00