Question: Question 5 - (18 Marks) 0.5 mark for correct quantity and 0.5 mark for correct unit cost/total cost for FIFO / Weighted Average methods (COGS/Ending
Question 5 - (18 Marks) 0.5 mark for correct quantity and 0.5 mark for correct unit cost/total cost for FIFO / Weighted Average methods (COGS/Ending Inventory) Haunted Mansion Limited uses a perpetual inventory system. Inventory data for the year ended December 31, 2019, are as follows: 50 units at 25 units at Beginning inventory $115 each February 28 purchase $125 each March 31 sales July 31 purchase $ 130 each August 31 sales October 31 purchase $135 each 60 units 45 units at 40 units 50 units at Required Determine the amounts to report for Cost of Goods Sold and Ending inventory using FIFO and the weighted average cost method
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