| |
|
Units |
Unit Price |
Total Cost |
| October 1, 2012 |
Beginning Inventory |
300 |
20.00 |
6,000 |
| October 18, 2012 |
1st purchase |
500 |
21.50 |
10,750 |
| November 25, 2012 |
2nd purchase |
400 |
22.00 |
8,800 |
| January 12, 2013 |
3rd purchase |
800 |
23.00 |
18,400 |
| March 17, 2013 |
4th purchase |
900 |
23.50 |
21,150 |
| June 2, 2013 |
5th purchase |
600 |
24.00 |
14,400 |
| August 21, 2013 |
6th purchase |
500 |
25.00 |
12,500 |
| September 27, 2013 |
7th purchase |
400 |
25.75 |
10,300 |
|
|
4400 |
|
102,300 |
September 30, 2013
Required
Calculate the total amount to be assigned to cost of goods sold under each of the following methods.
1. FIFO
2. LIFO
3. Weighted Average