Determine the ending inventory and the cost of goods sold

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Accounting Problem

Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were:

Feb. 20

600

units at

$9

Aug. 12

400

units at

$11

May 5

500

units at

$10

Dec. 8

100

units at

$12

Vista Company Inc. uses a periodic inventory system. Sales totaled 1,500 units.

Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost).

Reference no: EM131434876

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