(Answered) Question as of december 31 abc corp took a physical count

Accounting

Question: As of December 31, ABC Corp. took a physical count of its inventory and determined they had 120 units of their product still on hand. ABCâ€^TMs accounting records provided the following information about their inventory:

Goods Available for Sale throughout the year:

Units Unit Cost

Beginning Inventory 180 $4.35

Purchase, March 20 200 $5.10

Purchase, Aug. 12 310 $5.75

Purchase, Nov. 20 460 $6.50

Determine Cost of Goods and Ending Inventory amounts under FIFO, LIFO, and Average Cost Methods. Clearly label which method goes with which COGS and End. Inv. amount.

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