A. first-in, first-out (fifo)
b. last-in, first-out (lifo)
c. average cost
$ 193
$111
$ 177
$275
$266
2: 12
7. ex.07-166
beginning inventory. purchases, and sales data for hammers are as follows:
mar. 3
11
inventory 12 units
purchase 13 units @
mar. 3 inventory 12 units at $15
11 purchase 13 units at $17.
14 sale 18 units
21 purchase 9 units at $20
25 sale 10 units
assuming the business maintains a perpetual inventory system, complete the subsidiary invento
calculate the cost of merchandise sold and ending ihventory under the following assumptions:
(a) first-in, first-out
(b) last-in, first-out