2. A company made the following merchandise purchases and sales during the current month

July. 1 purchased 380 units at $15 each

July 5 purchased 270 units at $20 each

July 9 sold 500

units at $55 each

July 14 purchased300 units at $24 each

July 20 sold 250

units at $55 each

July 30 purchased 250 units at $30 each

From the above information, compute the cost of goods sold and ending inventory,

using FIFO, LIFO, and Weighted Average inventory methods.

Question

Business

Dimples

20 January, 00:20

2. A company made the following merchandise purchases and sales during the current month

July. 1 purchased 380 units at $15 each

July 5 purchased 270 units at $20 each

July 9 sold 500

units at $55 each

July 14 purchased300 units at $24 each

July 20 sold 250

units at $55 each

July 30 purchased 250 units at $30 each

From the above information, compute the cost of goods sold and ending inventory,

using FIFO, LIFO, and Weighted Average inventory methods.

+5

Answers (1)

Know the Answer?

Cindy Mcclain · Answer 1

Answer: You need to subtract the following then add what you have left.

Explanation: For example if you had $300 and you spent 200 you have $100 left