Question: helppp please asap Help Save & Exit Submit Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory
Help Save & Exit Submit Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 600 units-200 from each of the last three purchases. Jan. beginning inventory Mar. Purchase July 28 Purchase Oct. Purchase Dec. 19 Purchase Totals 300 unitse $4.00 - $ 1,200 640 unitse $4.25 - 2,720 1,280 units $5.00 6.400 1,160 units $7.00 8,120 720 units $0.90 6.408 4,100 units $ 24,848 Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round Intermediate calculations and round your answers to 2 decimal places.) Ending Inventory Cost of Goods Sold (a) Specific identification (b) Weighted average (c) FIFO (d) LIFO
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
