On January 31, a count of ending inventory was completed, and 7,200 units were on hand. Using the periodic inventory system, calculate the cost of goods sold and ending inventory using LIFO, FIFO, and weighted-average inventory methods.
To calculate the cost of goods sold (COGS) and ending inventory using different inventory valuation methods (LIFO, FIFO, and weighted-average), we need the following information:
1. Beginning Inventory: The number of units and their cost at the beginning of the period.
2. Purchases: The number of units purchased and their cost during the period.
3. Sales: The number of units sold during the period.
Unfortunately, the statement you provided doesn't include all the necessary information, such as the beginning inventory or any purchase and sales data. Therefore, it's not possible to calculate the COGS and ending inventory using the periodic inventory system with the given information.
If you have additional data, please provide it, and I will be happy to help you calculate the values using the different inventory cost methods.