Brief exercise 6-45 (Algorithmic)

Inventory Costing Methods

Tyler company has the following information related to ourchases and sales of one of its inventory items.

Uldl Brief Exercise 6-35 (Algorithmic) Inventory Costing Methods Tyler Company has the following information related to purchases and sales of one of its inventory items. Date Description Units Purchased at Cost Units Sold at Retail Sept. 1 400 units @ $15 Beginning inventory Purchase Sept. 10 600 units @ $16 Sept. 20 Sales 650 units @ $27 Sept. 25 Purchase 800 units at $18 Assume the company uses a perpetual inventory system. Required: Calculate ending inventory and cost of goods sold using the FIFO, LIFO, and average cost methods. FIFO LIFO Avg Cost $ Cost of goods sold 10,000 Ending Inventory $ 19,200 x Feedback