Spencer Company's inventory records for the most recent year contain the following data: Spencer Company sold...

Spencer Company's inventory records for the most recent year contain the following data:

Spencer Company sold a total of 19,200 units during the year.

Beginning Inventory 4,000 $ 8.00

Purchases during year 16,000 $ 12.00

1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year.

2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year.

3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year.

Expert Solution

ekkarill92 answered 1 year ago

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