Question: need to answer #3 0.57 points E7-5 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighte Oahu Kiki


need to answer #3
0.57 points E7-5 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighte 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 DateUnits Unit Cost Total Cost Beginning InventoryJanuary 1240$75$18,000 Purchase 27.200 January 15 32085 January 24 240 10525,200 Purchase Required: 1. Calculate the number and cost of goods available for sale units Number of Goods Available for Sale Cost of Goods Available for Sale 5 70 40 Cacuate Ine number of units in ending inventory
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
