Question: Beginning Inventory and purchases data for light bulbs are as follows: Apr 3 Beginning Inventory 15 units @ $15 20 units @ $18 25

Beginning Inventory and purchases data for light bulbs are as follows:Apr 3 Beginning Inventory 15 units @ $15Apr 11Purcha

Beginning Inventory and purchases data for light bulbs are as follows: Apr 3 Beginning Inventory 15 units @ $15 20 units @ $18 25 units @ $21 Apr 11 Purchase Apr 21 Purchase Assuming the business maintains the periodic inventory systems and that the ending inventory consists of 20 units, calculate the cost of merchandise sold and ending inventory under the following cost flow assumptions: First in, First Out Ending Inventory: Cost of Merchandise Sold: Last in, First Out Ending Inventory: Cost of Merchandise Sold:

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