Inventory Costing Methods
Vander Meer Inc. reported the following information for the month of February:
During February, Vander Meer sold 140 units. The company uses a periodic inventory system.
What is the value of ending inventory and cost of goods sold for February under the following assumptions:
1. Of the 140 units sold, 55 cost $20, 35 cost $22, 45 cost $23, and 5 cost $24.
4. Weighted average