The following data relate to inventory for the year ended December

The following data relate to inventory for the year ended December 31, 2009. A physical inventory on December 31, 2009, indicates that 600 units are on hand and that they came from the July 1 purchase.

The following data relate to inventory for the year ended December

Required
Compute the cost of goods sold for the year ended December 31, 2009, and the ending inventory under the following cost assumptions:
a. First-in, first-out (FIFO)
b. Last-in, first-out (LIFO)
c. Average cost (weighted average)
d. Specificidentification

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...

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