alculate the following. YOU MUST SHOW YOUR WORK.
Swan Building Supply started business at the beginning of the year. During the year the company sold 60 items at $ 40 each. A physical count reveals that 12 items are on hand at the end of the year. Swan made the following purchases during the year.
Date of Purchase Units Unit Cost Total Cost
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1/10 24 $10 _____
1/15 18 $20 _____
1/22 30 $24 _____
Determine the Cost of Goods Sold using the LIFO, FIFO and Weighted Average methods of valuing inventory.