Problem:
Suggs Company sells coffee makers used in business offices. Its beginning inventory of coffee makers was 400 units at $50 per unit. During the year, Suggs made two batch purchases of coffee makers. The first was a 500-unit purchase at $55 per unit; the second was a 600-unit purchase at $58 per unit. During the period, Suggs sold 1,200 coffee makers.
Required:
Question: Determine the amount of product costs that would be allocated to the cost of goodds sold and ending inventory, assuming Suggs uses:
A) FIFO
B) LIFO
C) Weighted Average
Note: Please provide full description.