Question: I need helping solving these problems and ive tried to watch videos but i still don't quite understand. the total cost for begining inventory is

Date Purchase Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic Inventory system. Assume Oahu Kikis records show the following for the month of January, Sales totaled 280 units Units Unit Cost Total Cost Beginning Inventory January 1 $ 90 $ 19,500 January 15 100 Purchase January 24 24,000 Required: 1. Calculate the number and cost of goods available for sale 2. Calculate the number of units in ending Inventory 3. Calculate the cost of ending inventory and cost of goods sold using the (FIFO, () LIFO, and (c) weighted average cost methods. 220 480 200 48,000 120 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the number and cost of goods available for sale. 900 units Number of Goods Available for Sale Cost of Goods Available for Sale Required 2 > Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kikis records show the following for the month of January, Sales totaled 280 units. Date Units Unit Cost Total Cost Beginning Inventory January 1 220 5 90 $ 19,50 Purchase January 15 488 180 48, eee Purchase January 24 200 12e 24,000 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (B) LIFO, and (c) weighted average cost methods. Complete this question by entering your answers in the tabs below. + Required 1 Required 2 Required 3 Calculate the cost of ending inventory and cost of goods sold using the (0) FIFO, (b) LIFO, and (c) weighted average cost methods. Cost of Ending Inventory Cost of Goods Sold FIFO LIFO Weighted Average Cost
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
