Required based on the information how much product

REQUIRED:
Based on the information how much product cost would be allocated to cost of good sold and endin
financial statements, assuming use of
A. Fifo?
B. Lifo?
C. Weighted average?

y items at different times. The
ng inventory on the year-end

units Price
Beginning inventory 100 60
Purchase 150 68
Purchase 200 72
Sold 270
Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was
During the year, Cortez made two batch purchases of this chair. The first was a 150-unit purchase @
200-unit purchase at $72 per unit. During the period, it sold 270 chairs.
REQUIRED:
Determine the amount of product costs that would be allocated to cost of goods sold and ending invent
a. FIFO
b. LIFO
c. Weighted Average
c). Weighted Average

Date Purchases Cost of Goods sold Inve
Quantity Unit cost Total cost Quantity Unit cost Total cost Quantity
100 60 6000 100