Beginning Inventory is 1/05 Sold 1/12 Inventory Purchased 1/19 Sold 1/22 Inventory Purchased 1/30 Sold 100...

 

Transcribed Image Text:

Beginning Inventory is 1/05 Sold 1/12 Inventory Purchased 1/19 Sold 1/22 Inventory Purchased 1/30 Sold 100 units with a cost of $4 45 Units at $6 50 units at $4.25 30 Units at $6 50 Units at $4.50 45 Units at $6 a. Calculate COGS and Ending Inventory using the FIFO perpetual method. b. Calculate COGS and Ending Inventory using Perpetual LIFO c. Calculate COGS and Ending Inventory using Period LIFO d. Calculate COGS and Ending Inventory using Periodic Average Cost method. Beginning Inventory is 1/05 Sold 1/12 Inventory Purchased 1/19 Sold 1/22 Inventory Purchased 1/30 Sold 100 units with a cost of $4 45 Units at $6 50 units at $4.25 30 Units at $6 50 Units at $4.50 45 Units at $6 a. Calculate COGS and Ending Inventory using the FIFO perpetual method. b. Calculate COGS and Ending Inventory using Perpetual LIFO c. Calculate COGS and Ending Inventory using Period LIFO d. Calculate COGS and Ending Inventory using Periodic Average Cost method.

Answer rating: 100% (QA)

a FIFO perpetual method To calculate COGS and Ending Inventory using the FIFO perpetual method we need to follow the order in which the inventory was purchased 1 Calculate COGS Sold 100 units from the ... View the full answer