Question: can you help me with both questions please would be appreciated Q1) Using the information below, determine the cost of Goods Sold for the month

 can you help me with both questions please would be appreciated

can you help me with both questions please would be appreciated

Q1) Using the information below, determine the cost of Goods Sold for the month regarding Inventory Item #101: # of Units Cost / Unit Total Feb 1, 2020 - Beginning Inventory 100 $10.00 $1,000.00 Feb 6, 2020 - Purchase Inventory 50 $12.00 $600.00 Feb 8, 2020 - Sold Inventory 70 ??? ??? Feb 15, 2020 - Purchased Inventory 100 $13.00 $1,300.00 Feb 20, 2020 - Sold Inventory 100 ??? ??? REQUIRED: A) Determine Cost of Goods Sold using FIFO B) Determine Cost of Goods Sold using Weighted Average Q#2) Using the information below, determine whether there are any adjustments needed to the records. Units 15 20 Inventory item Unit Cost Net Realizable per Unit SKU 11000 $100.00 $95.00 SKU 11020 $80.00 $85.00 SKU 11050 55 $110.00 $101.00 REQUIRED: A) Calculate LCNRV as a whole fassuming the items are similar) B) Calculate LCNRV applied separately to each product C) Prepare JE for Requirement B

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