Refer to the situation described in BE 8-6. S&M uses a perpetual inventory system. Calculate ending inventory

Question:

Refer to the situation described in BE 8-6. S&M uses a perpetual inventory system. Calculate ending inventory and cost of goods sold for January using (1) FIFO, and (2) average cost.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...