Question: Inventory Valuation Date Transaction Description Units Purchased Unit Cost ($) Units Sold Unit Selling Price ($) Jan 1 Beginning Inventory 100 10 Jan 5 Purchase

Inventory Valuation  

Date

Transaction Description

Units Purchased

Unit Cost ($)

Units Sold

Unit Selling Price ($)

Jan 1

Beginning Inventory

100

10



Jan 5

Purchase

50

12



Jan 10

Sale



80

20

Jan 20

Purchase

30

11



Jan 25

Sale



40

22

Tasks:

  1. Calculate COGS and ending inventory using FIFO.
  2. Calculate COGS and ending inventory using LIFO.
  3. Calculate COGS and ending inventory using the weighted average method.

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