Question: Plesse answer those two questions, if not don't bother doing it. Required information [The following information applies to the questions displayed below.) Causwell Company began

Required information [The following information applies to the questions displayed below.) Causwell Company began 2021 with 27,000 units of Inventory on hand. The cost of each unit was $500. During 2021 an additional 45,000 units were purchased at a single unit cost, and 37.000 units remained on hand at the end of 2021 (35,000 units therefore were sold during 2021). Causwell uses a periodic Inventory system. Cost of goods sold for 2021, applying the average cost method, is $192,500. The company is interested in determining what cost of goods sold would have been if the FIFO or LIFO methods were used. Required: 1. Determine the cost of goods sold for 2021 using the FIFO method. (Hint Determine the cost per unit of 2021 purchases.] (Do not round intermediate calculations.) Answer is complete but not entirely correct. $ 193.000 FIFO Cost of goods sold 12 of 13 !!! Next > Prev Required information [The following information applies to the questions displayed below] Causwell Company began 2021 with 27,000 units of inventory on hand. The cost of each unit was $5.00. During 2021 an additional 45,000 units were purchased at a single unit cost, and 37.000 units remained on hand at the end of 2021 (35,000 units therefore were sold during 2021) Causwell uses a periodic inventory system. Cost of goods sold for 2021 applying the average cost method, is $192,500. The company is interested in determining what cost of goods sold would have been if the FIFO or LIFO methods were used. Required: 2. Determine the cost of goods sold for 2021 using the LIFO method. (Do not round Intermediate calculations.) Answer is complete but not entirely correct. LIFO cost of goods sold S 189.800 12 Next >
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