Question: Eagle has been selling cellular phones for the past five years. Its best-selling model is the E-PHONE, and costs have been falling quickly recently (although

Eagle has been selling cellular phones for the past five years. Its best-selling model is the E-PHONE, and costs have been falling quickly recently (although selling prices to Eagle€™s customers are stable). The following information pertains to inventory of die E-PHONE for August 2013:

Required:
a. If Eagle uses the periodic FIFO inventory system, what would be the cost of ending inventory for August 2013?
b. If Eagle uses the weighted-average method for costing its periodic inventory, what would be the cost of goods sold for August 2013?
c. If Eagle uses the weighted-average method under a perpetual inventory system, what would be the cost of ending inventory for August 2013?

Units 3,600 2,400 (1,500) 3,000 .500) 4,000 Unit cost $40 $36 Opening inventory Purchase #1 Sale #1 Purchase #2 Sale #2 Total $28

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