Question 5

Current Attempt in Progress Ivanhoe Company uses a perpetual inventory system. The following information is available for November: Units Purchase Price Sales Price Nov. 1 Balance 10 $4.00 4 Purchase 22 $4.50 7 Purchase 22 $5.00 10 Sale (10) $8.00 12 Sale (32) $8.00 Calculate the cost of goods sold and ending inventory under FIFO. (Round answers to 0 decimal places, e.g. 5,275.) FIFO Cost of goods sold Ending inventory $ eTextbook and MediaCalculate the cost of goods sold and ending inventory under weighted average. (Round the weighted average cost per unit to two decimal places, e.g. 5.27 and nal answers to 0 decimal places, e.g. 5,275.) Weighted average Cost of goods sold $ Ending inventory $ eTextbook and Media