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B17 X fic B D 3 # of Units Total Cost 400.00 594.00 Cost per Unit 201$ 20.00 $ 27 22.00 30.00 80 $ 36 33 Description 4 Beginning Inventory 5 Jan. 15 Purchase 6 Jan. 20 Purchase 7 Goods Available for Sale 8 Less: January Sales 9 Ending Inventory 10 990.00 1,984.00 44 11 12 Required: 13 1) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 14 15 FIFO Ending Inventory # of Units Cost per Unit Total Cost 16 Description 17 Jan. 20 Purchase 18 Jan. 15 Purchase 19 44 20 21 FIFO Cost of Goods Sold # of Units Cost per Unit Total Cost 22 Description 23 Beginning Inventory 24 Jan. 15 Purchase 25 36 B17 fx A B D 27 2) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. 28 29 LIFO Ending Inventory 30 Description # of Units Cost per Unit Total Cost 31 Beginning Inventory 32 Jan. 15 Purchase 33 44 34 35 LIFO Cost of Goods Sold 36 Description # of Units Cost per Unit Total Cost 37 Jan. 20 Purchase 38 Jan. 15 Purchase 39 36 40 B17 for B D E F 41 3) Using Periodic Weighted Average, first calculate the cost per unit using the formula below. 42 Next, apply that same cost per unit to calculate both the Ending Inventory and cost of Goods Sold. 43 44 45 Weighted Average Cost = Cost of Goods Available for Sale Number of Units Available for Sale 46 47 per unit Weighted Average Ending Inventory # of Units Cost per Unit Total Cost Weighted Average Cost of Goods Sold # of Units Cost per Unit Total Cost 54 55 58 55 4) Use the given information and your calculated numbers to complete the cost of Goods Sold 57 Equation below for all three inventory methods. (All numbers should be positive.) FIFO LIFO Wtd. Avg. 59 Beginning Inventory 60 Add: Purchases 61 Goods Available for Sale 62 Less: Ending Inventory 63 Cost of Goods Sold