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Crane Company had a beginning inventory of 100 units of Product RST at a cost of $7 per unit.
During the year. purchases were: Crane uses a periodic inventory system. Sales totaled 1,500
units. Determine the cost of goods available for sale. The cost of goods available for sale $
Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost $
Determine the ending inventory and the cost of goods sold under each of the assumed cost flow
methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.)

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  • 1. Crane Company had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year. purchases were: Crane uses a periodic inventory system. Sales totaled 1,500 units. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost $ Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.)