Determine cost of goods sold and ending inventory, using fifo, lifo,

Determine cost of goods sold and ending inventory, using fifo, lifo,.

Determine cost of goods sold and ending inventory, using FIFO, LIFO, and average-cost with analysis.

(LO 2)

Sekhon Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.

 

 
Mar. 15 400 units at $23 Sept. 4 330 units at $26
July 20 250 units at $24 Dec. 2 100 units at $29

1,000 units were sold. Sekhon Company uses a periodic inventory system.

 

Determine cost of goods sold and ending inventory, using fifo, lifo,

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