The following transactions took place with respect to Model M computers in Alpha s Computer
Store during April 2003:
|
April 1 Beginning inventory |
40 computers at $1,200 |
|
5 Purchase of Model M computers. |
15 computers at $1,300 |
|
11 Purchase of Model M computers. |
16 computers at $1,350 |
|
24 Purchase of Model M computers. |
10 computers at $1,400 |
|
30 Sale of Model M computers |
32 computers at $3,000 |
Assuming the periodic inventory method, compute cost of goods sold and ending inventory using the following inventory costing alternatives: (a) FIFO, (b) LIFO, and (c) average cost.