Question

Explanation Units Unit Cost Total Cost Ending Inventory Valuation Cost of Goods Sold
Inventory, January 1 90 $102.00 $9,180.00
Purchases:
01/06/12 60 $101.00 $6,060.00
01/15/12 45 $101.00 $4,545.00
01/22/12 35 $95.00 $3,325.00
Inventory, January 31 88
Total merchandise available for sale 318 $23,110.00
1. Average cost method
2. FIFO


3. LIFO