0 8 https://moodle.wofford.edu/pluginfile.php/415036/mod_resource/content/1/Chapter 120 * - + Rt to page Page view A Read aloud Add notes ACCOUNTING 211 Chapter 8 Inventory Cost Flow Homework Spring 2020 Browning Industries began January 1, 2020 with $22,000 of inventory item 942-JBQ-9W. Merchandise transactions during 2020 were as follows: LEDGER Item# 942-JBO-9W Date Transaction Units Units Units Cost Total S Cost 4.000 $5.50 $22,000 2.000 Jan. 1. 2020 Jan 10, 2020 Jan. 17, 2020 Mar. 22, 2020 Apr. 15, 2020 Oct. 15, 2020 Nov. 20.2020 TOTALS Beg. Inv. Sale Purchase Purchase Sale Purchase Sale 1.000 3,000 6.00 7.00 6,000 21,000 1,500 7.50 22.500 3,000 6,500 11,000 $71,500 Required: Using the LIFO, FIFO and the AVERAGE COST METHOD, calculate the Cost of Goods Sold and Ending Inventory at December 31, 2020 for Item #942-JBQ-9W. Use the worksheets on the following pages to organize your answers. Type here to search