Uses weighted average with a periodic inventory system

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During 2012, a company sells 300 units of inventory for $85 each. the company has the following inventory purchase transactions for 2012: DATE TRANSACTION NUMBER OF UNITS UNIT COST TOTAL COST jan. 1 beginning inventory 60 $71 $4260 may 5 purchase 170 72 12240 nov 3 purchase 180 74 13320 ---------- -------------- 410 $29,820 A. calculate ending inventory and cost of goods sold for 2012 assuming the company uses FIFO with a periodic inventory system. B. calculate ending inventory and cost of goods sold for 2012 assuming the company uses weighted average with a periodic inventory system.

Reference no: EM131266005

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