Figure out what the Cost of Goods Sold is for the order placed for
- FIFO
- LIFO
- and Weighted Average Cost (Average Cost)
Using the information below.
Jacob's Footwear Inc.
For the Month Ended January 31, 2022
Month Description Units Unit Cost Total Cost
Jan. 1 - Beginning Inventory 300 $9 $2,700
Jan. 10 - Purchase 100 $8 $800
Jan. 15 - Purchase 200 $12 $2,400
Jan. 20 - Purchase 150 $11 $1,650
Jan. 25 - Purchase 250 $12 $3,000
Total 1,000 $10,550
The amount of units still left on-hand is 375.
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