Factor Company had 20 tons of sand in inventory on January 1, 2019 valued at...
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Accounting
Factor Company had 20 tons of sand in inventory on January 1, 2019 valued at $50 per ton. On February 1, 2019 it acquired 40 tons valued at $60 per ton and an additional 60 tons at $70 tons on March 1, 2019. On June 1, 2019 it made its only sale of sand for the year amounting to 80 tons. What was the ending inventory and cost of goods sold value for the sand that should be recorded in 2019 using the average cost, FIFO and LIFO methods
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