Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost 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 Kiki's records show the following for the month of January. Sales totaled 240 units.
Required
1. Calculate the number and cost of goods available for sale.
2. Calculate the number of units in Ending Inventory.
3. Calculate the cost of Ending Inventory and cost of goods sold using the (a) FIFO, (b) LIFO,and (c) weighted average cost methods
Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO and Weighted Average Cost

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(2) Number of units in Ending Inventory = Cost of Goods available for sale-

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Date 1-Jan 120 15-Jan 380 24-Jan 200 UnitsUnit Cost Total Cost Beginning Inventory $80.00 S9.600.00 S90.00 S34,200.00 S110.00 $22,000.00 Purchase Purchase Date 1-Jan 120 15-Jan 380 24-Jan 200 UnitsUnit Cost Total Cost Beginning Inventory Purchase Purchase Goods Available for Sale $80.00 S9.600.00 S90.00 S34,200.00 S110.00 $22,000.00 $280.00 S65,800.00 700 Units Date Date Date Unit Cost Unit Cost Unit Cost Total Cost Total Cost Total Cost Units Units