Answer:
W/A
COGS $ 425,750
EI $ 321.750
FIFO
COGS: $ 374,750
EI $ 371,750
LIFO
COGS $ 476,750
EI $ 270,750
Explanation:
Date Units Cost Subtotal
Begining3,400 50.00 170,000
Jan 30th 4,700 65.00 305,500
May 1st 3,400 80.00 272,000
Total 11,500 747,500
Sales units: 3,050 + 3,500 = 6,550
Weighted Average:
$747,5000 total value of the inventory / 11,500 units available = $65
COGS: 6,550 x $65 = $ 425,750
Ending Inventory: 747,500 - 425,750 = 321.750
FIFO
We sale the first units so the COGS are the frist 6,550 untis starting from the top:
3,400 beginning at 50
+ 3,150 Jan 30th at 65
COGS: 374,750
EI 747,500 - 375,750 = 371,750
LIFO we made sales of the lattest untis so in this case we start from the bottom:
3,400 May 1st at $80
3,150 Jan 30th at $65
COGS 476,750
EI 747,500 - 476,750 = 270.750
