Sunland Company had 140 units in beginning inventory at a total cost of $11,200. The company purchased 280 units at a total cost of $30,800. At the end of the year, Sunland had 75 units in ending inventory.
Sunland Company had 140 units in beginning inventory at a total cost of $11,200. The company purchased 280 units at a total cost of $30,800. At the end of the year, Sunland had 75 units in ending inventory.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sunland Company had 140 units in beginning inventory at a total cost of $11,200. The company purchased 280 units at a total cost of $30,800. At the end of the year, Sunland had 75 units in ending inventory.
(a)
Partially correct answer icon
Your answer is partially correct.
Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to 0 decimal places, e.g. 1,250.)
FIFO
|
LIFO
|
Average-cost
|
||||
The cost of the ending inventory |
$
|
$
|
$
|
|||
The cost of goods sold |
$
|
$
|
$
|
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