Exercise 6-2 Alternative cost flow CHECK FIGURES: COGS a. $9,400.00; b. $9,417.90 Urban Glam Cosmetics made purchases of lipstick in the current year as follows: assumptions-perpetual L02 eXcel Jan. 1 Beginning inventory.......... Mar. 14 Purchased............ July 30 Purchased Units available for sale.......... Cost of goods available for sale...... ************ Jan. 10 Mar. 15. Oct. 5. Total 75 units 250 units 500 units 825 units *************** $12.00 $13.00 $14.00 Urban Glam Cosmetics made sales on the following dates at a selling price of $35 per unit: 70 units 180 units 450 units 700 units $ 900 3,250 7,000 b. Moving weighted average (round to the nearest whole cent) Also calculate the gross profit under each method. $11,150 Required The business uses a perpetual inventory system. Determine the costs that should be assign to the ending inventory and to goods sold under: a. FIFO

Exercise 6-2 Alternative cost flow assumptions-perpetual L02 \& 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 assig 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