During October,Tedesco Company Sold 240 Units of Product R Compute the Cost of Goods Sold Under Each of Three

Essay

During October,Tedesco Company sold 240 units of Product R.Its beginning inventory and purchases during the month were as follows:
$\begin{array}{llll}\text { Oct. } & 1 & \text { Beginning inventory } & 100 \text { units @ } \$ 20 \\& 5 & \text { Purchases } & 100 \text { units @ } \$ 24\\&10 & \text { Purchases } & 100 \text { units @ } \$ 22 \\&15 & \text { Purchases } & 100 \text { units @ } \$ 24\\&20 & \text { Purchases } & 100 \text { units @ } \$ 28 \\&25 & \text { Purchases } & 100 \text { units @ } \$ 26\end{array}$
Compute the cost of goods sold under each of three methods: (a)average-cost,(b)LIFO,and (c)FIFO.Assume the periodic inventory system is used.(Show your work.)