Question: as fast as you can and please make it clear thanks h) Received $12,000 from customers billed in transaction (. 2 The Rock Shopuses a

as fast as you can and please make it clear thanks

as fast as you can and please make it clear thanks h)

h) Received $12,000 from customers billed in transaction (. 2 The Rock Shopuses a periodic Inventory system. The following data relates to its inventory: Inventory, January 1 300 units $5.00 Purchase, January 9 9 00 units $5.40 Purchase, January 19 210 units $6.00 A physical count on March 31 shows inventory on hand of 300 units. Instructions (show your work) (a) Determine the value that should be assigned to the ending inventory using the AVERAGE COST method (b) Determine the value that should be assigned to cost of goods sold using the average cost method 3) The Rock Shop uses a periodic inventory system. The following data relates toits inventory: Inventory, January 1 300 units $5.00 Purchase, January 9 900 units $5.40 Purchase, January 19 210 units $6.00 A physical count on March 31 shows inventory on hand of 300 units. Instructions (show your work) (a) Determine the value that should be assigned to the ending inventory using LIFO (b) Determine the value that should be assigned to cost of goods sold using FIFO Page 2 of 6

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