Riverside Ltd. uses a perpetual inventory system and had the following activity for a single inventory item: Instructions
Using the perpetual system, determine the ending inventory and cost of goods sold under:
a) FIFO
b) Weighted-average (round unit cost to nearest cent)
Show your work.

Question

Riverside Ltd. uses a perpetual inventory system and had the following activity for a single inventory item:  Instructions
Using the perpetual system, determine the ending inventory and cost of goods sold under: 
a) FIFO
b) Weighted-average (round unit cost to nearest cent)
Show your work.

Quizplus · Accepted Answer

The Answer of Riverside Ltd. uses a perpetual inventory system and had the following activity for a single inventory item:  Instructions
Using the perpetual system, determine the ending inventory and cost of goods sold under: 
a) FIFO
b) Weighted-average (round unit cost to nearest cent)
Show your work.