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Homework BuyAlot Company started its operations in 2019. Inventory purchases for the single product that it...

Homework BuyAlot Company started its operations in 2019. Inventory purchases for the single product that it sells are shown in the table below:

Date

Units

Cost per Unit

Total

January 1

100

$12

$1,200

March 13

200

14

2,800

August 17

150

15

2,250

October 31

300

17

5,100

ON December 31, 2019 BuyAlot had 125 units in ending inventory.

Calculate ending inventory and cost of goods sold using each of the cost flow assumptions below:

1. FIFO

2. LIFO

3. Weighted Average

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