Question: Exercis 6-2) Alternative cost flow assumptions-perpetual LO2 e) cel CHECK FIGURES: COGS a, $9,400,00; b. $9,417.90 Urban Glam Cosmetics made purchases of lipstick in the
Exercis 6-2) Alternative cost flow assumptions-perpetual LO2 e) cel CHECK FIGURES: COGS a, $9,400,00; b. $9,417.90 Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Urban Glam Cosmetics made sales on the following dates at a selling price of $35 per unit: Required The business uses a perpetual inventory system. Determine the costs that should be assigned to the ending inventory and to goods sold under: a. FIFO b. Moving weighted average (round to the nearest whole cent) Also calculate the gross profit under each method
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