1) Hudsucker Inc. uses the perpetual inventory system. There were 21 units of the item on...

 

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1) Hudsucker Inc. uses the perpetual inventory system. There were 21 units of the item on hand at the end of the month. The following units of an item were available for sale during the month: Jan 1 Beg. Inventory Jan 5 Sale Jan 12 Purchase Jan 18 Sale Jan 25 Purchase a) b) 3,000 units at $20/unit 2,500 units 6,000 units at $24/unit 3,500 3,000 units units at $25/unit What is the cost of the ending inventory on the Balance Sheet and the Cost of Merchandise Sold on the Income Statement if the company is using the FIFO Inventory System? Merchandise Inventory= CMS = What is the cost of the ending inventory on the Balance Sheet and the Cost of Merchandise Sold on the Income Statement if the company is using the LIFO Inventory System? Merchandise Inventory = CMS = 1) Hudsucker Inc. uses the perpetual inventory system. There were 21 units of the item on hand at the end of the month. The following units of an item were available for sale during the month: Jan 1 Beg. Inventory Jan 5 Sale Jan 12 Purchase Jan 18 Sale Jan 25 Purchase a) b) 3,000 units at $20/unit 2,500 units 6,000 units at $24/unit 3,500 3,000 units units at $25/unit What is the cost of the ending inventory on the Balance Sheet and the Cost of Merchandise Sold on the Income Statement if the company is using the FIFO Inventory System? Merchandise Inventory= CMS = What is the cost of the ending inventory on the Balance Sheet and the Cost of Merchandise Sold on the Income Statement if the company is using the LIFO Inventory System? Merchandise Inventory = CMS =