me Fle Edit View History Bookmarks People Window Help Queens & Great N × : Glam

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me Fle Edit View History Bookmarks People Window Help Queens & Great N × : Glam Body Sugaring Boutique × Trey Songz . Mr. Steal Your Gxy D Assignment R ezto.mheducation.com/hm.tpx?todo Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kikis records show the following for the month of January. Sales totaled 290 units. Beginning Inventory January 1140 80 $11,200 29,700 January 15 330 90 January 24 250 10 27,500 Required 1. Calculate the number and cost of goods available for sale Number of Goods Available for Sale 720 |$68,400 units Cost of Goods Available for Sale 2 Caloulate the number of units in ending inventory 430 units weighted average cost methods. Cost of Ending Cost of Goods Sold FIFO LIFO Weighted Average Cost

Explanation / Answer

Cost of ending inventory Cost of goods sold FIFO 43700 24700 LIFO 37300 31100 Weighted Average Cost 40850 27550 *Calculation of ending inventory:(ending inventory units = 430) FIFO [(250*110)+(180*190)] LIFO [(140*80) + (290*90)] Weighted Average [(68400/720)*430] *Calculation of Cost of Goods Sold : Cost of Goods Sold = Cost of Goods available for sale - Ending inventory FIFO (68400-43700) LIFO (68400-37300) Weighted Average (68400-40850)

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