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Waterway Industries had a beginning inventory of 100 units of product RST at a coat...

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Accounting

Waterway Industries had a beginning inventory of 100 units of product RST at a coat of $7 per unit. During the year, purchases were: image
Waterway Industries had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 May 5 690 548 462 units at units at $8 $9 Aug. 12 Dec. 8 100 units at units at $10 $11 Waterway uses a periodic inventory system. Sales totaled 1,500 units Determine the cost of goods available for sale. The cost of goods available for sale Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost SHOW LIST OF ACCOUNTS Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average cost). (Hound answers to o decimal places, e.g. 150.) FIFO LIFO AVERAGE COST The ending inventory $ $ The cost of goods sold $ $ SHOW LIST OF ACCOUNTS Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? results in the lowest inventory amount for the balance sheet. results in the lowest cost of goods sold for the income statement

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