A company’s purchases and sales during a year are shown below.
Assume that all units are identical except their price.
January 1: Purchase A @ $5.
February 1: Purchase B @ $7.
March 1: Sell B @ $8.
April 1: Purchase C @ $10.
May 1: Purchase D @13.
June 1: Sell C @ $14.
Find the COGS ($) & Ending Inventory using the Specific Identification, FIFO Perpetual, FIFO Periodic, LIFO perpetual and LIFO period methods>
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