Question

Given the following data, calculate cost of goods sold and the cost of ending inventory.
3 separate methods, FIFO, LIFO and Weighted Average. You must show ALL calculations.

Date Transaction
1/10 Bought 200 inventory units @ $15

1/20 Bought 200 inventory units @ $17

1/25 Sold 150 inventory units @ $30

1/28 Bought 100 inventory units @ $20

1/31 Sold 120 inventory units @ $30

2/4 Bought 90 inventory units @ $21

Date	?Goods Purchased	Cost of Goods sold	Inventory Balance

Answer 1

Answer:

FIFO:

2 LIFO

3 Weighted Average