Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system. August 1 Beginning inventory 190 units of Product A @ $1,600 total cost 5 Purchased 210 units of Product A @ $2,116 total cost 8 Purchased 310 units of Product A @ $4,416 total cost 11 Sold 260 units of Product A Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first-in, first-out, (b) last-in, first- out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar.

Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system. August 1 Beginning inventory 190 units of Product A @ $1,600 total cost 5 Purchased 210 units of Product A @ $2,116 total cost 8 Purchased 310 units of Product A @ $4,416 total cost 11 Sold 260 units of Product A Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first-in, first-out, (b) last-in, first- out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar.

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Description: Please do not give solution in image format thanku Inventory Costing Methods-PeriodicMethod Archer Company is a retailer thatuses the periodic inventory system. August1 Beginning inventory 190 units of ProductA @ $1,600 total cost 5 Purchased 210 uni

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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