Question: inventory by three methods Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as

inventory by three methods

Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Jan. 1 24 units at $1,800 Inventory Purchase May 15 27 units at $1,950 Aug. 7 Purchase 12 units at $2,040 Nov. 20 Purchase 17 units at $2,100 There are 20 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Round your final answers to the nearest dollar. Cost Inventory Method Ending Inventory Cost of Goods Sold a. First-in, first-out method b. Last-In, first-out method C. Weighted average cost method Check My Work

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