1. Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and Weighted Average Cost methods. ? X Inventory costing methods - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign in Calibri 11 A A %6 Paste BIU- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font V A F 3 A1 Better Bottles, Inc., uses a periodic inventory system and has the following B D E 1 Better Bottles, Inc., uses a periodic inventory system and has the following information available: 2 Description # of Units Cost per Unit Total Cost 4 Beginning Inventory 20 S 20.00 S 400.00 5 Jan. 15 Purchase 27 22.00 594.00 6 Jan. 20 Purchase 33 30.00 990.00 7 Goods Available for Sale 80 s 1,984.00 8 Less: January Sales 36 9 Ending Inventory 44 10 11 12 Required: Options z A Saved 12 Required: 13 1) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 14 15 FIFO Ending Inventory 16 Description # of Units Cost per Unit Total Cost 17 Jan. 20 Purchase 18 Jan. 15 Purchase 19 44 20 21 FIFO Cost of Goods Sold 22 Description # of Units Cost per Unit Total Cost 23 Beginning Inventory 24 Jan. 15 Purchase 25 36 26 27 2) Calculate both the Ending Inventory and cost of Goods Sold using Periodic LIFO. 28 29 LIFO Ending Inventory 30 Description # of Units Cost per Unit Total Cost 31 Beginning Inventory 32 Jan. 15 Purchase Sheet1 READY Attempt(s) m + 100%