Question - The accounting records of Oats Electronics show the following data.
Beginning inventory 3,250 units at $6
Purchases 8,210 units at $8
Sales 9,270 units at $11
Determine cost of goods sold during the period under a periodic inventory system using (a) the FIFO method, (b) the LIFO method, and (c) the average-cost method. (Round unit cost to nearest tenth of a cent, e.g. 2.545, use this rounded amount for future calculations. Round final answer to the nearest dollar, e.g. 25,500.)