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-   -   Computing inventory by 3 methods of perpetual system. (https://www.askmehelpdesk.com/showthread.php?t=734772)

  • Feb 17, 2013, 10:55 PM
    Hunter Al
    Computing inventory by 3 methods of perpetual system.
    01/01 Beginning Inventory 100 untis @ $10
    02/15 Purchase 200 units @ $12
    04/22 Purchase 125 units @ $13
    07/19 Purchase 90 units @ $14
    12/31 Ending Inventory 75 units.

    1. How do you calculate the value of the Ending inventory using FIFO, LIFO, and Average -Cost.

    2. How do you calcualte the Cost of goods sold using FIFO, LIFO and Average-cost.

    With the questions above how would I illustrate and show my work to arrive at the answer for FIFO, LIFO when I'm having a hard time seeing units or steps for each method, I do understand how to get average cost ending inventory and cost of goods sold under average cost.

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