Problem E

EME Assuming periodic inventory methods. Show work and circle your answers Rock Shop shows the following data related to an item of inventory Inventory, January 1 300 units @ $10.00 Purchase, January 9 700 units @ $11.00 Purchase, January 19 140 units @ $13.00 Ending Inventory, January 31 250 units OW CALCULATIONS structions What value should be assigned to the ending inventory and cost of goods (a) using FIFO? Cost of Goods Sold = Endimg inventory (b)using LIFO? Cost of Goods Sold = Ending inventor (c) using weighted average Cost of Goods Sold = Endimg inventor (d)Assuming the company keeps perpetual inventory and uses the moving average method ofment is the cost of goods sold if all 890 units were sold on January 12? Cost of Good Son= Under moving average, 2hat is the January 31 ending inventory? Ending the (e)Assuming the company keeps perpetual inventory and uses the LIFO method of inventory of goods sold if all 890 units were sold on January 12? Cost of Goods Soto Under perpetual LIFO, what is the January 31 ending inventory Ending Inventory =