What inventory costing method is the company using

Assignment Help Financial Accounting
Reference no: EM131287323

A merchandising company has beginning inventory of 50 units with a total cost of \$500. The following transactions during the month of January: 1/5 bought 10 units at \$11.00 each; 1/8 bought 15 units at \$11.25 each; 1/15 sold 8 units for \$16 each; 1/22 bought 10 units at \$11.50 each and sold 12 units for \$16.50 each. The ending inventory is \$693.75. What inventory costing method is the company using?

FIFO

LIFO – perpetual

LIFO – periodic

weighted average

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