Question

2. A company made the following merchandise purchases and sales during the current month

July. 1 purchased 380 units at $15 each
July 5 purchased 270 units at $20 each
July 9 sold 500
units at $55 each
July 14 purchased300 units at $24 each
July 20 sold 250
units at $55 each
July 30 purchased 250 units at $30 each
From the above information, compute the cost of goods sold and ending inventory,
using FIFO, LIFO, and Weighted Average inventory methods.

Answer 1

Answer: You need to subtract the following then add what you have left.

Explanation: For example if you had $300 and you spent 200 you have $100 left