Inventory Costing Methods

The following data are for the Evans Company, which sells just one product:

Units Unit Cost

Beginning inventory January $1200$ $$35$

Purchases: February $11500$ $$49$

May $18400$ $$56$

October $23100$ $$70$

Sales March $1400$

July $1400$

Calculate the value of ending inventory and cost of goods sold using the periodic method and $($a$)$ first$-$in$,$ first$-$out, $($b$)$ last$-$in$,$ first$-$out, and $($c$)$ weighted$-$average cost method.

Cost of goods sold Ending inventory

a$.$ FIFO Answer

$0$

Answer

$0$

b$.$ LIFO Answer

$0$

Answer

$0$

c$.$ Weighted average Answer

$0$

Answer

$0$