2 pints Exercise 5-3A (Static) Allocating product cost between cost of goods sold and ending inventory: multiple purchases LO 5-1 Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 150-unit purchase at $68 per unit; the second was a 200-unit purchase at $72 per unit. During the period, it sold 270 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses: a. FIFO. b. LIFO. c. Weighted average. Ancwor ic Return to quest st completo

Complete this question by entering your answers in the tabs below. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez us Complete this question by entering your answers in the tabs below. Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming Cortez uses Weighted average. Exercise 5-3A (Static) Allocating product cost between cost of goods sold and ending inventory: multiple purchases LO 5-1 Cortez Company sells chairs that are used at computer stations, its beginning inventory of chairs was 100 units at $60 per unit Dunng the year, Cortez made two batch purchases of this chait, The first was a 150 -unit purchase at $68 per unit the second was a 200 -unit purchase at $72 per unit. During the period, it sold 270 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses: o. FIFO b. UFO c. Weighted average Complete this question by entering your answers in the tabs below. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses FIFO. Complete this question by entering your answers in the tabs below. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses Determine the amount of product costs that would be allocated to cost of goods sold, assuming that cortez uses FIFO. Exercise 5-3A (Static) Allocoting product cost between cost of goods sold and ending inventory: multiple purchoses LO 5-1 Cortez Company selis chairs that are used at computer stations. its beginning inventory of chairs was 100 units at $60 per unit During the year, Cortez made two batch purchases of this chair. The first was a 150 -unit purchase at 568 per unit, the 5ec0nd was a 200 -unnt purchase at $72 per unit During the period, it sold 270 chairs Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Corte? uses? a. FIFO b. LIFO c. Weighted average