Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Units:
Beginning inventory: 12 at $95= $1,140
Purchase: 45 at $98= $4,410
Purchase: 51 at $99= $5,049
Purchase: 19 at $100= $1,900
Inventory:
104 units were sold
Ending inventory= 127-104= 23 units
A) FIFO (first-in, first-out)
Inventory= 19* 100 + 4*99= $2,296
LIFO (last-in, first-out)
Inventory= 12*95 + 11*98= $2,218
Weight-average method:
Average cost= (95 + 98 + 99 + 100)/4= $98
Inventory= 23*98= $2,254
B) Cost of goods sold:
FIFO:
COGS= 12*95 + 45*98 + 47*99= $10,203
LIFO:
COGS= 19*100 + 51*99 + 34*98= $10,281
Weighted-average:
COGS= 104*98= $10,192