Zippy Shoe Co. uses a periodic inventory system. Zippy purchased 400 pairs of shoes at $74 each in June, 980 pairs in August at $76 each, and 600 pairs in December at $79 each. Zippy sold 1,860 pairs of shoes during the year.Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.a. FIFO ????b. LIFO ????c. Weighted Average (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.)????
What will be an ideal response?
a.
| Cost of Goods Sold | $142,000? |
| Ending Inventory | $9,480? |
| Cost of Goods Sold | $142,600? |
| Ending Inventory | $8,880? |
| Cost of Goods Sold | $142,309? |
| Ending Inventory | $9,181? |
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