Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were: Feb. 20 600 units at $9 Aug 12 400 $11 May 5 500 units at $10 $12 Ending inventory Vista Company uses a periodic inventory system Sales totaled 1,500 units. Cost of goods sold Dec. 8 Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to O decimal places, eg 150) $ 100 FIFO units at units at LIFO $ AVERAGE-COST

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were:
Aug 12
Dec. 8
Feb. 20 600
May 5
500
units at
Ending inventory
units at
Cost of goods sold
$9
$10
$
Vista Company uses a periodic inventory system. Sales totaled 1,500 units.
$
400
100
Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and
average-cost). (Round answers to O decimal places, eg. 150)
FIFO
units at
units at
$11
$12
LIFO
AVERAGE-COST
Transcribed Image Text:Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were: Aug 12 Dec. 8 Feb. 20 600 May 5 500 units at Ending inventory units at Cost of goods sold $9 $10 $ Vista Company uses a periodic inventory system. Sales totaled 1,500 units. $ 400 100 Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to O decimal places, eg. 150) FIFO units at units at $11 $12 LIFO AVERAGE-COST
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