Question: Please solve question 1 and then the FIFO problem! (D) Calculation of COGS and Ending Inventory Call-Mart Inc, had the following transactions in its first

Please solve question 1 and then the FIFO problem!

(D) Calculation of COGS and Ending Inventory Call-Mart Inc, had the following transactions in its first month of operations. Assume that beginning inventory S. Purchases Sold or Issued Balance March 2 2.000 @ $4 2.000 units March 15 6.000 a $4.4 8,000 units March 19 4.000 units 4,000 units March 30 2.000 a $4.75 6.000 units Assume that Call-Mart Inc.'s 6,000 units of ending inventory consists of 1,000 units from the March 2 purchase, 3,000 from the March 15 purchase, and 2,000 from the March 30 purchase. 1. Calculate cost of goods available for sale. (3) FIFO 0 Periodic Inventory System COGS EI BI March 2 March 15 March 30 0 2.000 a $4 6.000 a $4.4 2.000 a $4.75 Perpetual Inventory System COGS BI March 2 March 15 March 19 March 30 0 2.000 a $4 6,000 @ $4.4 2.000 a $4.75 (D) Calculation of COGS and Ending Inventory Call-Mart Inc, had the following transactions in its first month of operations. Assume that beginning inventory S. Purchases Sold or Issued Balance March 2 2.000 @ $4 2.000 units March 15 6.000 a $4.4 8,000 units March 19 4.000 units 4,000 units March 30 2.000 a $4.75 6.000 units Assume that Call-Mart Inc.'s 6,000 units of ending inventory consists of 1,000 units from the March 2 purchase, 3,000 from the March 15 purchase, and 2,000 from the March 30 purchase. 1. Calculate cost of goods available for sale. (3) FIFO 0 Periodic Inventory System COGS EI BI March 2 March 15 March 30 0 2.000 a $4 6.000 a $4.4 2.000 a $4.75 Perpetual Inventory System COGS BI March 2 March 15 March 19 March 30 0 2.000 a $4 6,000 @ $4.4 2.000 a $4.75

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