Question: A companys inventory records showed the following data relative to a particular item sold regularly (assume that the transactions take place in the order given and inventory is valued using a periodic not perpetual system)
Units Unit Cost
1) Begining Inventory 10 $2.00
2) Purchase #1 40 2.20
3) Purchase #2 20 2.10
4) Sale #1 50
5) Purchases #3 60 2.40
6) Sales #2 @ $5 each 20
Decription Fifo Lifo Weighted Average
Cost of Goods Sold _________ _________ ____________
Ending Inventory _________ _________ ______________