Inventory Data for the Accounting Period Were as Follows (In

question 128

Essay

Inventory data for the accounting period were as follows (in order of date): $\begin{array}{|l|r|r|}\hline &\text { Units } & \text { Unit } \\\hline &\text { Cost } & \\\hline \text {Beginning inventory. }&400 & \$ 3.00 \\\hline \text { Purchase \#1.}&800 & \$ 3.10 \\\hline \text {Sale \( \# 1 \). }&1,000 & \\\hline \text { Purchase \#2.}&800 & \$ 3.20 \\\hline \text {Sale \#2. }&600 & \\\hline\end{array}$ Compute the following amounts under each inventory flow method
(round to nearest cent): $\begin{array} { |l |l|l| }\hline &\text { Ending }\\\hline&\text { Inventory }&\text {Cost of }\\&\text { Valuation }&\text {Goods Sold }\\\hline \text {(a) FIFO. }&\$&\$\\\hline \text {(b) Weighted average }&\$&\$\\\hline \text {(c) Moving average }&\$&\$\\\hline \end{array}$