CALCULATor Question 1 Wndsos Inc. had 120 units in beginning inventory at a tota

Question

CALCULATor Question 1 Wndsos Inc. had 120 units in beginning inventory at a total cost of $15,600. The company purchased 240 units at a total cost of $31,200. At the end of the yeat Windsor had 75 units in ending inventory Compute the cost of the ending inventory and the cost of goods sold under IFO, LIFO, and average-cost.(Round average cost per unit and final answers to O decimal places, eg. 1,2so.) The cost of the endng inventory s FIFO The cost of goods sold Which cost flow method would result in the highest net income? Which cost flow method would result ventories approxmotingorrent cost r, tbebalance sheet? o search 3/19

Explanation / Answer

Calculate following :

b) All cost flow has same income

c) All cost flow has give same least taxes

FIFO LIFO Weighted average Ending inventory 130*75 = 9750 130*75=9750 (46800/360*75) = 9750 Cost of goods sold (31200+15600-9750) = 37050 37050 37050

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