Second quarter cost of goods sold and ending inventory

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Reference no: EM132234080

Quarter 1: There is no beginning inventory. 5000 units are purchased in Quarter 1 at $ 25,000 and 4000 units are used in the quarter.

Quarter 2: 5000 more units are purchased in Quarter 2 for $ 20,000. 4000 units are used in Quarter 2.

Calculate First and Second quarter Cost of Goods Sold and Ending Inventory using (i) LIFO, (ii) FIFO, (iii) Weighted Average.

Reference no: EM132234080

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