Hogan’s Department Store uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below. Date Number of Units Unit Price May 7 60 $11 July 28 32 17 On June 1, Hogan sold 30 units, and on August 27, 32 more units.
Calculate the average cost. (Round answers to 3 decimal places, e.g. 5.125.) June 1 sale: $ Aug. 27 sale: $ Compute the cost of goods sold using (a) FIFO, (b) LIFO, and (c) average-cost. (Round answers to 0 decimal places, e.g. 125.) The cost of goods sold using FIFO $ The cost of goods sold using LIFO $ The cost of goods sold using average-cost $ 13