Metlock, Inc
Subject:AccountingPrice: Bought3
Metlock, Inc. Inc. had a beginning inventory of 105 units of Product RST at a cost of $ 7 per unit. During the year, purchases were: Feb. 20 575 units at $8 Aug. 12 405 units at $ 10 May 5 480 units at $9 Dec. 8 100 units at $ 11 Metlock, Inc. uses a periodic inventory system. Sales totaled 1,550 units. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.) FIFO LIFO AVERAGE-COST The ending inventory to $ $ The cost of goods sold $ ta $ ta $ tA
