Question: Directions This Assessment contains 3 questions each question has multiple parts. You may use your choice of Word or Excel, but be sure to show

Directions This Assessment contains 3 questions each question has multiple parts.

Directions This Assessment contains 3 questions each question has multiple parts. You may use your choice of Word or Excel, but be sure to "show your work" for calculations. Completing this assessment will help you to: Course Outcomes: Complete and evaluate inventory systems and cost flows methods. Question #1 Craig Company buys and sells one product. Its beginning inventory, purchases, and sales during calendar year 2015 follow: Date Activity Units Acquired at Cost Units Sold at Retail Unit Inventory Jan. 1 Beg inventory . . . . 400 units @ $14#$5.600 Jan. IS Sale March 10 Purchase.... 200 units$I5 $3,000 April I Sale May 9 Purchase 300 units$16 4,800 Sept 22 Purchase 250 units $20 5,000 Nov. I Sale 400 units 200 units 400 units 200 units 500 units 750 units 450 units 200 units @ $30 200 units $30 300 units $35 -1001nis @ $21-12 100 Totals1.250 units$20,500 700 units

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