(Solved by Humans)-Ziad Company had a beginning inventory on January 1 of 192 units of Product 4-18-15 at a cost of $22

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

Question

Ziad Company had a beginning inventory on January 1 of 192 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 512 units at $26 Sept. 4 448 units at $28 July 20 320 units at $27 Dec. 2 128 units at $31 1,280 units were sold. Ziad Company uses a periodic inventory system. Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Please answer like this:                                          FIFO                                LIFO                                  AVERAGE-COST The ending inventory      $ ________________       $___________________    $___________________ The Cost of Goods Sold $_________________       $____________________ $___________________

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