Question - Stocken Company has the following financial records for the current period:
| |
Units
|
Unit Cost
|
|
Beginning inventory
|
100
|
$46
|
|
Purchases: #1
|
650
|
$42
|
|
#2
|
550
|
$38
|
|
#3
|
200
|
$36
|
Ending inventory at the end of this period is 350 units. Compute the ending inventory and the cost of goods sold for the current period using (a) first-in, first-out. (b) Average cost, and (c) last-in, first-out.