Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system....
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Accounting
Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system.
| August | 1 | Beginning inventory | 1,780 | units of Product A@ | $1,600 | total cost |
| 5 | Purchased | 1,700 | units of Product A @ | $2,116 | total cost | |
| 8 | Purchased | 1,900 | units of Product A @ | $4,416 | total cost | |
| 11 | Sold | 1,750 | units of Product A |
Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods.
Do not round until your final answers. Round your final answers to the nearest dollar.
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