Question: Beginning inventory, purchases, and sales data for T - shirts are as follows: April 3 Inventory 2 4 units @ $ 1 0 April 1
Beginning inventory, purchases, and sales data for Tshirts are as follows:
April Inventory
units
@ $
April Purchase
units
@ $
April Sale
units
April Purchase
units
@ $
April Sale
units
Assuming the business maintains a periodic inventory system, determine the cost of goods sold and ending inventory using the following methods:
a FIFO
b LIFO
c Weighted average cost
In your computations, round the average cost per unit to two decimal places and round your final answers to the nearest dollar.
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