The ABC Company has the following inventory records.
2/1 Beginning Balance 5@ $60 $300
2/5 Purchase 20@ $50 $1000
2/10 Sale 21
2/25 Purchase 13@ $30 390
3/10 Purchase 16@ $20 320
3/15 Sale 30
3/19 Purchase 9@ $10 90
Using the periodic inventory method. Compute, for each month separately, February and March, the cost of goods sold, using
a) FIFO
b) LIFO
c) Weighted Average