Question: Inventory Costing Methods-Perpetual Method The following information is for the Bloom Company for 2012: the company sells just one product: Units Unit Cost Beginning Inventory

Inventory Costing Methods-Perpetual Method The following information is for the Bloom Company for 2012: the company sells just one product: Units Unit Cost Beginning Inventory Jan. 1 200 $11 Purchases: Feb. 11 500 $15 May 18 Oct. 23 100 21 Sales: March 1 July 1 400 400 17 400 Calculate the value of ending inventory and cost of goods sold using the perpetual method and (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar. 0 0 A. First-in, First-out: Ending Inventory s Cost of goods sold $ B. Last-in, first-out: Ending Inventory $ Cost of goods sold s c. Weighted Average Ending Inventory s Cost of goods sold s 0 0 0 0
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
