Inventory Costing Methods
Tyler Company has the following information related to purchases and sales of one of its inventory items.
tableDateDescription,Units Purchased at Cost,Units Sold at RetailSeptBeginning inventory, units @ $Purchase, units @ $Sales,, units @ $Purchase, units at $
Assume Tyler uses a perpetual inventory system.
Required:
Calculate ending inventory and cost of goods sold using the FIFO, LIFO, and average cost methods.
tableFIFO,LIFO,Avg CostCost of$$$
