E6-2B. Inventory Costing Methods-Periodic The following May data are for an item in Mary's inventory: unit....

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E6-2B. Inventory Costing Methods-Periodic The following May data are for an item in Mary's inventory: unit. Method Mary Company uses the periodic inventory system. LO May 1 Beginning inventory, 150 units @ $30 per 12 Purchased 100 units @ $35 per unit. 16 Sold 180 units. 24 Purchased 170 units @ $40 per unit. Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost method. Round the cost per unit to three decimal places and your final answers to the nearest dollar. E6-2B. Inventory Costing Methods-Periodic The following May data are for an item in Mary's inventory: unit. Method Mary Company uses the periodic inventory system. LO May 1 Beginning inventory, 150 units @ $30 per 12 Purchased 100 units @ $35 per unit. 16 Sold 180 units. 24 Purchased 170 units @ $40 per unit. Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost method. Round the cost per unit to three decimal places and your final answers to the nearest dollar.

Answer rating: 100% (QA)

May 1 12 24 Total Average cost per unit Ending inventory units A Firstin Firstout En... View the full answer