Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the…

Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the current period: Units Unit cost Beginning inventory 100 $49 Purchases #1 650 45 #2 550 41 #3 200 39 Ending inventory at the end of this period is 350 units. Compute the ending inventory and the cost of goods sold for the current period using (a) first-in, first-out, (b) average cost, and (c) last-in, first-out. FIFO Average cost LIFO Cost of goods sold $ Ending inventory

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