Question: Problem 6-03A a, b1-b2, (Video) Concord Company had a beginning inventory on January 1 of 180 units of Product 4-18-15 at a cost of $20

Problem 6-03A a, b1-b2, (Video) Concord Company had a beginning inventory

on January 1 of 180 units of Product 4-18-15 at a cost

Problem 6-03A a, b1-b2, (Video) Concord Company had a beginning inventory on January 1 of 180 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. Mar. 15 July 20 490 units 250 units at at $22 $24 Sept. 4 Dec. 2 320 units 100 units at at $26 $28 1,140 units were sold. Concord Company uses a periodic inventory system. Your answer is partially correct. Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). FIFO LIFO AVERAGE-COST The ending inventory 52001 4040 4701 XE The cost of goods sold 26300 27460 26799

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