Question: eBook Calculator Brief Exercise 6-35 (Algorithmic) Inventory Costing Methods Tyler Company has the following information related to purchases and sales of one of its inventory
eBook Calculator 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 400 units @ $13 Sept. 1 Sept. 10 Sept. 20 Beginning inventory Purchase Sales 600 units $15 640 units @ $26 Sept. 25 Purchase 1000 units at $16 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 SZLIFO Avg Cost Cost of goods sold Ending inventory s
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