Dixie Company uses the periodic inventory system. Below is the inventory information for the month of March for one of its most popular items:
Units Unit Cost
3/1 Beginning Inventory 100 $40
3/3 Purchase 60 $50
3/10 Purchase 200 $55
3/22 Purchase 40 $60
A physical count of inventory on March 31 revealed that there were 150 units on hand.
Compute 1) the value of the ending inventory and 2) the cost of goods sold under the FIFO method:
Compute 1) the value of the ending inventory and 2) the cost of goods sold under the LIFO method:
Compute 1) 1) the value of the ending inventory and 2) the cost of goods sold under the average cost method:
