Question: Problem 6-63A Inventory Costing Methods Anderson's Department Store has the following data for inventory, purchases, and sales of merchandise for December for one of the

 Problem 6-63A Inventory Costing Methods Anderson's Department Store has the following
data for inventory, purchases, and sales of merchandise for December for one
of the tems the company selis: Activity Units Purchase Price (per unit)

Problem 6-63A Inventory Costing Methods Anderson's Department Store has the following data for inventory, purchases, and sales of merchandise for December for one of the tems the company selis: Activity Units Purchase Price (per unit) $6.00 6.80 7.50 Sale Price (per unit) Beginning inventory Purchase 1, Dec. 2 Purchase 2, Dec. 5 Sale 1, Dec. 7 Sale 2, Dec. 10 10 26 $12.00 12.00 Purchase 3, Dec. 12 8.00 12.00 1. Compute cost of goods sold and the cost of ending inventory using FIFO. Ir reauired, round your answers to the nearest cent Cost of goods sold Cost of ending inventory using the weighted average cost method. (Note: Use four decimal places for per-unit caliculations and round all other numbers to the neerest penny.) Cost of goods sold Ned

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!