Inventory Costing Methods-Periodic Method The following information isfor the Bloom Company; the company sells just one product:200Feb. 11 500May 18 400Oct. 23 100Units Unit Cost$10141620Beginning InventoryPurchases:At year-end, there was an ending inventory of 340 units. Assume the use ofthe periodic inventory method. Calculate the value of ending inventory andthe cost of goods sold for the year using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost method.Do not round until your final answers. Round your answers to the nearestdollar.

Question
Asked Mar 5, 2019
Inventory Costing Methods-Periodic Method The following information is
for the Bloom Company; the company sells just one product:
200
Feb. 11 500
May 18 400
Oct. 23 100
Units Unit Cost
$10
14
16
20
Beginning Inventory
Purchases:
At year-end, there was an ending inventory of 340 units. Assume the use of
the periodic inventory method. Calculate the value of ending inventory and
the cost of goods sold for the year using (a) first-in, first-out, (b) last-in, first-
out, and (c) the weighted-average cost method.
Do not round until your final answers. Round your answers to the nearest
dollar.
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Inventory Costing Methods-Periodic Method The following information is for the Bloom Company; the company sells just one product: 200 Feb. 11 500 May 18 400 Oct. 23 100 Units Unit Cost $10 14 16 20 Beginning Inventory Purchases: At year-end, there was an ending inventory of 340 units. Assume the use of the periodic inventory method. Calculate the value of ending inventory and the cost of goods sold for the year using (a) first-in, first-out, (b) last-in, first- out, and (c) the weighted-average cost method. Do not round until your final answers. Round your answers to the nearest dollar.

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Step 1

Calculate the units of cost of goods sold:

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Step 2

Calculate the cost of goods sold under each method:

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Step 3

Calculate the ending inventory under...

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