Question: Print Item Inventory Costing Methods Morrison Inc. reported the following information for the month of August: Inventory, August 1 61 units @ $20 Purchase: August

Print Item Inventory Costing Methods Morrison Inc. reported the following information

Print Item Inventory Costing Methods Morrison Inc. reported the following information for the month of August: Inventory, August 1 61 units @ $20 Purchase: August 7 47 units @ $22 August 18 61 units @ $24 August 27 47 units @ $26 During August, Morrison sold 135 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for August under the following assumptions. Assumption Cost of Goods Sold Ending Inventory

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