Seminole company began year 2015 with 30,000 units of product in its january 1 inventory costing $17.00 each. it made successive purchases of its product in year 2015 as follows. the company uses a periodic inventory system. on december 31, 2015, a physical count reveals that 55,000 units of its product remain in inventory. mar. 7 - 30,000 units @ $18 each
may 25 - 39,000 units @ $20 each
aug. 1 - 23,000 units @ $25 each
nov. 10 - 35,000 units @ $26 each
compute the amounts assigned to the 2013 ending inventory and the cost of goods sold.
(a) fifo periodic
(b) lifo periodic
(c) weighted average periodic
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