The Lakeview Company uses the periodic inventory system. Calculate the cost of ending inventory and cost of goods sold using the
(a) FIFO,
(b) LIFO,
(c) Weighted-average methods. Lakeview sells only one product, called SM57.

ending inventory is 59 units.

Transcribed Image Text:

Units Cost per Unit S 7 January 1 March 18 August 19 November 8 Beginning inventory52 Purchased Purchased Purchased 13 41 53 10