Cho Co. sells product
A. The beginning inventory for product A was 70 units @ $60 per unit. During the year, Cho purchased 110 units of product A at $54 per unit. The company sold 140 units of product A @ $100 per unit at the end of the year.Required:
Determine the amount of product cost that would be allocated to cost of goods sold and ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average.

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The Answer of Cho Co. sells product
A. The beginning inventory for product A was 70 units @ $60 per unit. During the year, Cho purchased 110 units of product A at $54 per unit. The company sold 140 units of product A @ $100 per unit at the end of the year.Required:
Determine the amount of product cost that would be allocated to cost of goods sold and ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average.

Cho Co. Sells Product