Having Trouble With Problem Inventory Costing Methods A Company With No Inventor

Having trouble with problem

Inventory Costing Methods

A company with no inventory buys the following three inventory items:

Jan 7 Item A $6

Jan 8 Item B $7

Jan 9 Item C $8

On January 10, the company sells one item for $10.

On January 15, the company sells a second item for $10.

The company uses a perpetual inventory system.

Required:

Calculate the company’s cost of goods sold under the following inventory costing methods. If required, round your answers to two decimal places.

a. FIFO

$

b. LIFO

$

c. Moving Average

$