Atwood Company uses a periodic inventory system.During the first quarter of 2014,it sold 12,000 cases of Product A for $120,000.Facts related to its beginning inventory and purchases are as follows:
For the quarter ended March 31,2014,compute the ending inventory,cost of goods sold,and gross margin under three methods: (a)average-cost, (b)FIFO,and (c)LIFO.(Show your work. )
Definitions:
Covariance
Covariance is a measure used in statistics to determine how two variables move in relation to each other, often used in portfolio theory to assess risk.
Reward-to-Variability Ratio
A measure of the return on an investment relative to its risk, higher values indicate better risk-adjusted returns.
Standard Deviation
A statistical measure that quantifies the variability or dispersion of a set of data points or the volatility of an investment's returns.
Risk-Free Rate
The theoretical rate of return on an investment with zero risk, typically represented by the yield on government securities.
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