The units of Product C available for sale during the year were as follows: Dec...
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Accounting
The units of Product C available for sale during the year were as follows: Dec 1 Beginning inventory 45 units @ $14 4 Sale 20 units 15 Purchase 22 units @ $20 31 Sale 28 units Inventor April1y 30 uni @$36 ts 42 uni @ $38 ts 48 uni @ $40 ts June 30 Octobe r 28 Purchase Purchase There are 50 units of the product in the physical inventory on October 31. The periodic inventory system is used. Determine the cost of goods sold by (a) FIFO, (b) LIFO, and (c) average cost methods
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