Acme has the following information about its periodic inventory for the month of November: UnitsUnit CostTotal Cost Beginning inventory140$ 10$ 1,400 Purchase 134093,060 Purchase 2307210 Purchase 329072,030 Totals800$6,700 Acme sold 300 units during the month at a selling price of $15 per unit and Acme also had sales returns and allowances of $400 during the month. Required: Calculate the following amounts and enter your answer in the space provided:

 (a)The dollar value of ENDING INVENTORY using FIFO.

 (b)The dollar value of COST OF GOODS SOLD using WEIGHTED AVERAGE COST.

Answer rating: 100% (QA)

a 1 Acme sold 300 units during the month at a selling price of 15 per unit 2 Acme had sales returns ... View the full answer