Question: Problems 10-12 will use the following information: Jackson, Inc. has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total
Problems 10-12 will use the following information: Jackson, Inc. has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning Inventory 25 $60 $1,500 Sep. 8 Purchase 20 $62 1.240 45 $1,740 ASSUME THAT JACKSON SELLS 40 UNITS OF INVENTORY DURING 2021. 10. Calculate ending inventory AND cost of goods sold for 2021 assuming the company uses FIFO with a periodic inventory system. 11. Calculate ending inventory AND cost of goods sold for 2021 assuming the company uses LIFO with a periodic inventory system. 12. Calculate ending inventory AND cost of goods sold for 2021 assuming the company uses weighted average cost with a periodic inventory system
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