Exercise 6-63 (Algorithmic) Inventory Costing Methods: Periodic Inventory System (Appendices 68) The inventory accounting records for Roth Corporation contained the following data: Beginning inventory Purchase 1, Feb. 26 Sale 1, March 9 Purchase 2, June 14 Sale 2, Sept. 22 Required: Calculate the cost of ending inventory and the cost of goods sold using the FIFO, LIFO, and average cost methods. (Note: Use four decim places for per-unit calculations and round all other numbers to the nearest dollar.) FIFO LIFO Average cost Cost of ending inventory Cost of goods sold 400 units at $12 each 2,300 units at $14 each 2,500 units at $27 each 2,200 units at $15 each 2,100 units at $29 each

Exercise 6-63 (Algorithmic) Inventory Costing Methods: Periodic Inventory System (Appendices 68) The inventory accounting records for Roth Corporation contained the following data: Beginning inventory Purchase 1, Feb. 26 Sale 1, March 9 Purchase 2, June 14 Sale 2, Sept. 22 Required: Calculate the cost of ending inventory and the cost of goods sold using the FIFO, LIFO, and average cost methods. (Note: Use four decim places for per-unit calculations and round all other numbers to the nearest dollar.) FIFO LIFO Average cost Cost of ending inventory Cost of goods sold 400 units at $12 each 2,300 units at $14 each 2,500 units at $27 each 2,200 units at $15 each 2,100 units at $29 each

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Description: answer in text form please (without image) Exercise 6-63 (Algorithmic)Inventory Costing Methods: Periodic Inventory System (Appendices 68)The inventory accounting records for Roth Corporation contained the following data:Beginning inventoryPurchase 1

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 63E: ( Appendix 6B) Inventory Costing Methods: Periodic Inventory System The inventory accounting records...

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