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Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March...

Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system.

March

1 Beginning inventory 110 units of Product M @ $1,590 total cost

6 Purchased 210 units of Product M @ $3,600 total cost

10 Purchased 160 units of Product M @ $3,000 total cost

15 Sold 190 units of Product M

Calculate the March cost of goods sold and the ending inventory at March 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.

A. First-in, first-out Ending Inventory

Cost of Goods Sold

B. Last-in, first-out Ending Inventory

Cost of Goods Sold

C. Weighted-average cost Ending Inventory

Cost of Goods Sold

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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