Question: Accounting, I need hand write calculations step by step please Sherman Electric uses a periodic inventory system. The beginning inventory of a particular product, and

Accounting, I need hand write calculations step by step please

Sherman Electric uses a periodic inventory system. The beginning inventory of a particular product, and the purchases during the current year, were as follows: 1 Jan. Beginning inventory60 units @ S105 $ 6,300 8 Mar. Purchase... 30 units @ $115 3,450 11 Aug. Purchase.90 units 12511,250 23 Oct. Purchase....20 units @ S135 2,700 Total available for sale.... 200 units S23,700 At 31 December, the ending inventory of this product consisted of 65 units. Using periodic costing procedures, determine (1) cost of the year-end inventory and, (2) cost of goods sold relating to this product under each of the following flow assumptions: Inventory at 31 Dec. Cost of Goods Sold a Weighted average cost b First-in, first-out

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