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Pete's Convenience Store has a beginning inventory of 12 cans of soup at a cost...

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Accounting

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Pete's Convenience Store has a beginning inventory of 12 cans of soup at a cost of $0.85 each. During the year, the store purchased 4 at $95,6 at $1.05,7 at $1.35, and 8 at $1,50. By the end of the year, 18 cans were sold. Required: (A) Calculate the number of cans of soup in the ending inventory. (B) Calculate the cost of ending inventory under LIFO, FIFO, and weighted average. Note: Round your answers to the nearest cent

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