The accounting records of Tuel Electronics show the following data.

Beginning inventory		3,880 units at	$8
Purchases		8,660 units at	$10
Sales		9,310 units at	$13

Determine cost of goods sold during the period under a periodic inventory system using the FIFO method, the LIFO method, and the average-cost method. (Round answers to 0 decimal places, e.g. 125.)

		FIFO		LIFO		Average-cost
Cost of goods sold		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount

Answer rating: 100% (QA)

Solution Cost of Goods sold FIFO 3880 units from Beginning inventory ... View the full answer