Question: Exercise 6-63 (Algorithmic) Inventory Costing Methods: Periodic Inventory System (Appendices 6B) 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 6B) The inventory accounting records for Roth Corporation contained the following data Beginning inventory 400 units at $ 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 or ending inventory 4,013 13.8776 Cost of goods sold 63,987
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