Question: Exercise 6-63 (Algorithmic) Inventory Costing Methods: Periodic Inventory System (Appendices 68) The inventory accounting records for Roth Corporation contained the following data: Beginning inventory 400
Exercise 6-63 (Algorithmic) Inventory Costing Methods: Periodic Inventory System (Appendices 68) The inventory accounting records for Roth Corporation contained the following data: Beginning inventory 400 units at $11 each Purchase 1. Feb. 26 2,300 units at $14 each Sale 1. March 9 2.500 units at $27 each Purchase 2, June 14 2,200 units at $15 each Sale 2. Sept. 22 2.100 units at $29 each Required: Calculate the cost of ending inventory and the cost of goods sold using the FIFO, LIFO, and average cost methods. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar) FIFO LIFO Average cost Cost of ending inventory Cost of goods sold
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