Question: A company's has the following data regarding its inventory for the year. Sales 21,000 units @ $50 Inventory, January 1 6,000 units @ 20 Purchases

A company's has the following data regarding its inventory for the year.

Sales	21,000	units @	$50
Inventory, January 1	6,000	units @	20
Purchases	6,000	units @	22
	10,000	units @	25
	7,000	units @	30
Inventory, December 31	8,000	units

The 21,000 units sold were sold equally from all inventory layers. That is, 5,250 units from beginning inventory and 5,250 units from each of the purchases during the year.

Determine the following:

COGS for the year
Ending inventory at December 31
What is the name of the inventory costing method that you just performed to get the answers for #1 and #2?

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