Question - Company's inventory records for the most recent year contain the following data:
Quantity . unit cost
Beginning inventory: 4,000 . $8.00
Purchases During the year: $16,000 . $10.00
Sackville
Sackville Company sold a total of 18 ,600
18,600 units during the year.
Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year.
Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year.