10A. Look Books has the following transactions in August related to merchandise inventory....
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10A. Look Books has the following transactions in August related to merchandise inventory. i(Click the icon to view the transactions.) Determine the cost of goods sold and ending merchandise inventory using the FIFO inventory costing method assuming Look Books uses the periodic inventory system. . b. Determine the cost of goods sold and ending merchandise inventory using the LIFO inventory costing method assuming Look Books uses the periodic inventory system. Determine the cost of goods sold and ending merchandise inventory using the weighted-average inventory costing method assuming Look Books uses the periodic inventory system. . a., b., and c. Determine the cost of goods sold and ending merchandise inventory using the (a) FIFO inventory costing method, (b) LIFO inventory costing method, and (c) weighted-average inventory costing method assuming Look Books uses the periodic inventory system. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.) More Info FIFO Weighted Average LIFO Aug. 1 Beginning merchandise inventory, 14 books @ $18 each Plus 3 Sold 6 books@ $16 each 12 Purchased 12 books @ $19 each 15 Sold 11 books @ $16 each 20 Purchased 3 books @ $20 each 28 Sold 5 books@ $19 each Less Cost of goods sold
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