The Following Data Are Available for the Month of March $\text {March 1 balance}$

question 12

Essay

The following data are available for the month of March: $\text {March 1 balance}$ $\quad 20$ $\text {units at \(\$ 15\) each}$
$\text {March 10 purchase}$ $\quad 40$ $\text {units at \(\$ 16\) each}$
$\text {March 17 purchase}$ $\quad 30$ $\text {units at \(\$ 17.50\) each}$
$\text {March 30 purchase }$ $\quad 25$$\text {units at \(\$ 18\) each}$ On March 31, 35 units are on hand.
Calculate cost of goods sold under the following methods:
a)FIFO b)weighted-average (round per unit cost to the nearest cent, round final answer to the nearest dollar, assume periodic inventory system)

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Definitions:

Personal Tastes

Individual preferences or likes, particularly relating to aesthetic or consumption choices.

Contracting Parties

The entities or individuals who enter into a contract or legal agreement with each other.

Fraudulent Conveyance

A transfer of property with the intent to defraud creditors.

Consideration

A legal concept in contract law referring to something of value exchanged between parties to a contract, a requirement for the contract to be binding.