LaGrange Company, which uses the periodic inventory system, has the following records for the year:

Ending inventory at December 31 is 108 units. Compute the cost of the ending inventory and the cost of goods sold using the following methods:
a. FIFO
b. Weighted-average
c. LIFO

Question

LaGrange Company, which uses the periodic inventory system, has the following records for the year: 
  
Ending inventory at December 31 is 108 units. Compute the cost of the ending inventory and the cost of goods sold using the following methods:
a. FIFO
b. Weighted-average
c. LIFO

Quizplus · Accepted Answer

The Answer of LaGrange Company, which uses the periodic inventory system, has the following records for the year: 
  
Ending inventory at December 31 is 108 units. Compute the cost of the ending inventory and the cost of goods sold using the following methods:
a. FIFO
b. Weighted-average
c. LIFO

LaGrange Company, Which Uses the Periodic Inventory System, Has the Following