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Calculate ending inventory and cost of goods sold for windy


Problem - Assume the following data for Windy Road Co. for November 2010:

Beginning inventory Nov. 1         6 units at $80 each

Sale Nov. 3                               2 units at $120 each

Nov. 6 purchase                        10 units at $90 each

Sale Nov. 8                               6 units at $110 each

Sale Nov. 9                               3 units at $110 each

Required:

1) Calculate ending inventory and Cost of Goods Soldfor Windy Road Co. assuming the  moving weighted-average cost method is being used.

2) Calculate ending inventory and Cost of Goods Sold for Windy Road Co. assuming the  FIFO cost method is being used.

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Accounting Basics: Calculate ending inventory and cost of goods sold for windy
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