1 Better Bottles, Inc., uses a periodic inventory sv stem and has the following information available: Description # of Units Cost per Unit Total Cost 4 Beginning Invento 5 Jan. 15 Purchase 6 Jan. 20 Purchase 7 Goods Available for Sale 8 Less: January Sales 9 Ending Invento 10 20 S 27 20.00 $ 22.00 30.00 400.00 594.00 990.00 1,984.00 80 36 12 Required: 13 1) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO 15 16 17 Jan. 20 Purchase 18 Jan. 15 Purchase 19 20 FIFO Ending Inventor Description # of Units Cost per Unit Total Cost 21 FIFO Cost of Goods Sold Description # of Units Cost per Unit Total Cost 23 Beginning Invento 24 Jan. 15 Purchase 25 26 27 2) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO 36 28 29 30 31 Beginning Invento 32 Jan. 15 Purchase LIFO Ending Inventor Description # of Units Cost per Unit Total Cost 34 35 36 37 Jan. 20 Purchase 38 Jan. 15 Purchase 39 40 41 3) Using Periodic Weighted Average, first calculate the cost per unit using the formula belovw 42 Next, apply that same cost per unit to calculate both the Ending Inventory and Cost of Goods Sold LIFO Cost of Goods Sold Description # of Units Cost per Unit Total Cost 36 3) Using Periodic Weighted Average, first calculate the cost per unit using the formula below. Next, apply that same cost per unit to calculate both the Ending Inventory and Cost of Goods Sold Weighted Average Cost- Cost of Goods Available for Sale Number of Units Available for Sale per unit Weighted Average Ending Inventor Cost per Unit # of Units Total Cost Weighted Average Cost of Goods Sold Cost per Unit # of Units Total Cost 4) Use the given information and your calculated numbers to complete the Cost of Goods Sold Equation below for all three inventory methods. (All numbers should be positive.) FIFO LIFO Wtd. Avg Beginning Inventory Add: Purchases Goods Available for Sale Less: Ending Inventory Cost of Goods Sold