Question: Inventory Costing Methods - Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April inventory for one of the items
Inventory Costing Methods - Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April inventory for one of the items in the merchand inventory consisted of 120 units with a unit cost of $335. Transactions for this item during April were as follows: April 9 Purchand $355 per unit 14 2 Puthed 20 530 per un 40 Required a. Calculate the cost of goods sold and the ending inventory cost for the month of April using the weighted average cost method. Do not round until your final answers. Round your final answers to the nearest dollar b. Calculate the cost of goods sold and the ending inventory cost for the month of April using the first in, first-out method c. Calculate the cost of goods sold and the ending inventory cost for the month of April using the last in first-out method. a Wehted Average Ending inventory Cost of goods Sold 5 24750 24,750 25.000 Ending inventory 5 Com of Goods Sod 5 La fest out Ending invertory 5 Com of Goods Sold ON
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