2024 – Vista Company Inc had a beginning inventory of 100 units of Product RST at

Accounting – 2024

Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were:

Feb. 20		600		units at		$9		Aug. 12		400		units at		$11
May 5		500		units at		$10		Dec. 8		100		units at		$12

Vista Company Inc. uses a periodic inventory system. Sales totaled 1,500 units.

 

Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.)

		FIFO		LIFO		AVERAGE-COST
The ending inventory		$ [removed]		$ [removed]		$ [removed]
The cost of goods sold		$ [removed]		$ [removed]		$ [removed]

 

 

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