Question: im very lost. if possible, please put down the steps on how to solve the problem along with the answers. thank you so much Oahu



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 Kiki's records show the following for the month of January, Sales totaled 300 units. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units 2ee 340 260 Unit Cost $ 70 80 1ee Total Cost $14,000 27, 2ee 26, eee 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. Required 1 Required 2 Required 3 Calculate the number and cost of goods available for sale. Number of Goods Available for Sale units Cost of Goods Available for Sale Required 1 Required 2 Required 3 Calculate the number of units in ending inventory. Ending Inventory units Required 1 Required 2 Required 3 Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. Cost of Ending Cost of Goods Inventory 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
