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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