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A new textbook is published in the spring of 2014. Your campus bookstore buys 445 copies at $77 each in June, an additional 970 copies in August at $79 each, and 640 copies in December at $82 each. At the end of December 2014, the bookstore has sold 1,855 copies of the text.

a.Calculate the cost of goods sold and the cost of ending inventory under the weighted average cost method.

b.Calculate the cost of goods sold and the cost of ending inventory under the FIFO method.

c.Calculate the cost of goods sold and the cost of ending inventory under the LIFO method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9966819

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