Question: Use the data from Problem 6-1B and do Part 1, assuming Obama Company uses a periodic inventory costing system. Round calculations to two decimal places.

Use the data from Problem 6-1B and do Part 1, assuming Obama Company uses a periodic inventory costing system. Round calculations to two decimal places.
The Obama Company has two sales during the period. The units have a selling price of $165 per unit.

Obama Company uses a perpetual inventory system.

Required:
1.Calculate the dollar value of cost of goods sold and ending inventory using
(a) FIFO
(b) Moving weighted average method (round the average cost per unit to two decimal places).

Beginning.600 units $105/unit Feb. 13.... 200 units $109/unit Aug. 5.. 345 units$112/unit

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