What is the cost of goods sold using FIFO inventory method

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Reference no: EM132719694

Questions -

Q1. A company has beginning inventory of 300 units at $ 17.24 each; They purchased 400 units at $ 6.34 each on June 2; On June 15, they also purchased 200 units at $ 10.11 each. A physical count of merchandise inventory at the end of the month revealed that 500 units were sold. What is the cost of goods sold using the FIFO inventory method? Round your answer to the nearest dollar.

Q2. A company has beginning inventory of 300 units at $ 17.28 each; They purchased 400 units at $ 8.88 each on June 2; On June 15, they also purchased 200 units at $ 5.93 each. A physical count of merchandise inventory at the end of the month revealed that 500 units were sold. What is the cost of goods sold using the LIFO inventory method?

Q3. A company has beginning inventory of 300 units at $ 14.23 each; They purchased 400 units at $ 7.48 each on June 2; On June 15, they also purchased 500 units at $ 10.22 each. A physical count of merchandise inventory at the end of the month revealed that 823 units were sold. What is the cost of goods sold using the weighted average inventory method? Round all answers to the nearest dollar. But as always do not round any intermediate calculations, only round your final answer.

Reference no: EM132719694

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