1.Inventory.Inventory valuation methods: Basic computations. The January beginni

1.Inventory.Inventory
valuation methods: Basic computations.
The January beginning inventory of the
White Company consisted of 300 units costing $40 each. During the first
quarter the company purchased two batches of goods: 700 units at $44 on
February 21 and 800 units at $50 on March 28. Sales during the first quarter
were 1400 units at $75 per unit. The White Company uses a periodic inventory
system.Using the White Company data fill in the
chart that follows to compare the results obtained under the FIFO
LIFO and weighted-average inventory methods.FIFOLIFOWeighted
AverageGoods available for
sale$$$Ending inventory March
31Cost of goods sold