Question: This is one question the order is in correct format! Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs


Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 120 units at $110 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 226-unit purchase at $125 per unit; the second was a 264-unit purchase at $132 per unit. During the period, it sold 372 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses a. FIFO: FIFO Units Unit Cost Cost of Goods Sold $ From beginning inventory From first purchase From second purchase Total @ @ @ OOOO 0 $ FIFO Units Unit Cost Ending Inventory $ From second purchase @ 7. = 0 b. LIFO: LIFO Units Unit Cost Cost of Goods Sold $ 0 11 From second purchase From first purchase Total @ @ *** II 0 0 $ 0 LIFO Units Unit Cost Ending Inventory $ 0 From beginning inventory From first purchase Total ending inventory @ ole $ c. Weighted average: (Round your intermediate calculations and final answers to the nearest whole dollar amoun $ 0 units @ units @ $ Cost of goods sold Ending inventory 0
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