Question: Inventory Costing Methods - Perpetual Method Fortune Stores uses the perpetual inventory system for its merchandise inventory. The pril 1 inventory for one of the
Inventory Costing MethodsPerpetual Method Fortune Stores uses the perpetual inventory system for its merchandise inventory. The pril inventory for one of the
items in the merchandise inventory consisted of units with a unit cost of $ Transactions for this item during April were as follows:
Required
a Calculate the cost of goods sold and the ending inventory cost for the month of April using the weightedaverage 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 firstin firstout method.
c Calculate the cost of goods sold and the ending inventory cost for the month of April using the lastin firstout method.
a Weighted Average
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