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Unformatted text preview: ventory:
Purchases for the month:
March 30th 200 units at $4.00 each
500 units at $4.50 each
400 units at $4.75 each
300 units at $5.00 each Sales were as follows:
March 15: 500 units
March 25: 400 units
1. Under a periodic inventory system, compute the ending inventory balances and cost of goods sold
under FIFO, LIFO, and Weighted Average.
2. Under a perpetual inventory system, compute ending inventory balances and COGS under LIFO and
Weighted Average methods. 45...
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This note was uploaded on 01/22/2014 for the course ACG 2021 taught by Professor Linkovich during the Spring '08 term at University of South Florida - Tampa.
- Spring '08
- Financial Accounting