Determine cost of goods sold and ending inventory, using fifo, lifo,
Determine cost of goods sold and ending inventory, using FIFO, LIFO, and average-cost with analysis.
(LO 2)
Sekhon Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.
| Mar. 15 | 400 units at $23 | Sept. 4 | 330 units at $26 |
| July 20 | 250 units at $24 | Dec. 2 | 100 units at $29 |
1,000 units were sold. Sekhon Company uses a periodic inventory system.
