Inventory Costing Methods-Periodic Method The following information is for the Bloom Company for the year; the company sells just one product:
Units Unit Cost
Beginning Inventory
Purchases:
Jan. 1
200
$15
Feb. 11 500
May 18
$19
400
21
Oct. 23 100
25
Sales:
March 1
July 1
400
400
Calculate the value of ending inventory and cost of goods sold using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method.
Do not round until your final answers. Round your final answers to the nearest dollar.