Practice Problem 01 a, b1-b2, c

Practice Problem 01 a, b1-b2, c Cullumber Company had a beginning inventory on January 1 of 75 units of Product 4-18-15 at a cost of $18 per unit. During the year, the following purchases were made. Mar. 15 200 units at $21 Sept. 4 175 units at $24 July 20 125 units at $22 Dec. 2 50 units at $27 500 units were sold. Cullumber Company uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.23.) Average cost per unit $ Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to 0 decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory $ The cost of goods sold $