Solution-Determine the cogs and ending inventory for year

Determine the cogs and ending inventory for year

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Reference no: EM131127687

For year ended 12/31/08, inventory information for Harper Inc. is as follows:

Date	Description	Quantity	Unit Cost
01/31/08	Units on hand	1,000 units	$5.00/unit
03/25/08	Purchase	500 units	$6.00/unit
05/15/08	Purchase	500 units	$7.00/unit
08/29/08	Sale	300 units
10/02/08	Purchase	700 units	$8.00/unit
12/15/08	Sale	-500 units

Assuming a periodic inventory system and based upon the information above, please determine the COGS and Ending Inventory for year 2008 under the following inventory valuation methods:

a. Weighted Average cost

b. FIFO

c. LIFO

Reference no: EM131127687

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Determine the cogs and ending inventory for year

Reference no: EM131127687

Reference no: EM131127687

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