Question: LO2 P6-2A. Inventory Costing Methods-Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the
LO2 P6-2A. Inventory Costing Methods-Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inven- tory consisted of 120 units with a unit cost of $330. Transactions for this item during April were as follows: April 9 Purchased 40 units @ $345 per unit. 14 Sold 80 units@$550 per unit. 23 Purchased 20 units@ $350 per unit. 29 Sold 40 units@$550 per unit. Required Calculate the cost of goods sold and the ending inventory cost for the month of April using the weighted-average cost method. Round your final answers to the nearest dollar Calculate the cost of goods sold and the ending inventory cost for the month of April using the first-in, first-out method. Calculate the cost of goods sold last-in, first-out method. a. b. c. and the ending inventory cost for the month of April using the
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