Given the following data, calculate cost of goods sold and the cost of ending inventory.

3 separate methods, FIFO, LIFO and Weighted Average. You must show ALL calculations.

Date Transaction

1/10 Bought 100 inventory units @ $12

1/20 Bought 200 inventory units @ $15

1/25 Sold 150 inventory units @ $26

1/28 Bought 100 inventory units @ $17

1/31 Sold 120 inventory units @ $26

2/4 Bought 60 inventory units @ $18

Answer rating: 100% (QA)

Purchases 100 200 100 60 460 units Units sold 150 120 270 units End... View the full answer