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Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are...

Inventory Costing Methods-Periodic Method
Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory:

May 1 Beginning inventory 210 units @ $36

per unit
12 Purchased 160 units @ $41 per unit
16 Sold 240 units @
24 Purchased 220 units @ $42 per unit

Calculate the cost of goods sold for May and ending inventory at May 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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ekkarill92 answered 2 years ago
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