Question: periodic Inventory Information: Date Explanation Units Cost Jan. 1 Beginning Inventory 4,000 $ 3 Purchases 6,000 $ 4 Units Sold Price Sales 7,000 $ 12

periodic Inventory Information: Date Explanation Units Cost Jan. 1 Beginning Inventory 4,000 $ 3 Purchases 6,000 $ 4 Units Sold Price Sales 7,000 $ 12 Actions to take: 1. Using FIFO calculate the ending inventory and the cost of goods sold. 2. Using LIFO calculate the ending inventory and the cost of goods sold. 3. Using Average Cost calculate the ending inventory and the cost of goods sold. 4. Prepare the Condensed Income Statement and explain it. Para cada uno de los mtodos de inventario (FIFO, LIFO, Average) calcule el costo del inventario final y el costo de la mercanca vendida. Valor 9 puntos.

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