Given the following information for Goode Company:

May 1	Beginning inventory	18 units @ $4 per unit
May 7	Purchase	12 units @ $5 per unit
May 10	Sale	14 units
May 17	Purchase	10 units @ $6 per unit
May 19	Sale	4 units

Required:
Answer the following questions for Goode Company:

a.	If FIFO is in use, what is the total ending inventory in dollars?
b.	If perpetual LIFO is in use, what is the cost of goods sold for the month?
c.	If weighted average is in use, what is the ending inventory?

Answer rating: 100% (QA)

A Total units beginning inventory purchases 18 12 10 40 units Less sold units 14 4 18 units Ending i... View the full answer