Duncan Industries' Inventory of coats (Model XL) during 2019 is given below. The company uses...
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Duncan Industries' Inventory of coats (Model XL) during 2019 is given below. The company uses a periodic inventory system. # Units Unit Cost $ 70 Beginning Inventory, January 1, 2019 Purchases: January 18 March 31 October 20 November 11 Ending Inventory, December 31, 2019 ook rences 1. What is the cost of the ending Inventory and the cost of goods sold? Assume Duncan Industries utilizes the FIFO method. 2. What is the cost of the ending inventory and the cost of goods sold? Assume Duncan Industries utilizes the LIFO method. 3. What is the cost of the ending Inventory and the cost of goods sold? Assume Duncan Industries utilizes the average cost method. (Do not round your intermediate calculations. Round your answers to 2 decimal place.) FIFO LIFO average cost Ending inventory Cost of goods sold
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