Accounting

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Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were:

Feb. 20 600 units at $9 Aug. 12 400 units at $11
May 5 500 units at $10 Dec. 8 100 units at $12


Vista Company Inc. uses a periodic inventory system. Sales totaled 1,500 units.

 

Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.)

  
FIFO
 
LIFO
 
AVERAGE-COST
The ending inventory $
[removed]
 $
[removed]
 $
[removed]
The cost of goods sold $
[removed]
 $
[removed]
 $
[removed]
 
 

 

    • 7 years ago
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