1 Part 9 (24 points) 2 Perpetual Inventory Problem 4 During January, a company that uses a perpetual inventory system had a beginning 5 inventory, purchases, and sales as follows. T 7 8 9 10 Units I Unit Cost Beginning inventory 60 $1200 Jan 5. Purchase 40 $14.00 Jan 15Sale . 49 ? | | 12 Complete the framed area of the inventory cards below under each of the assumptions listed 13 1 . SPECIFIC IDENTIFICATION (25 sold from the beginning inventory and 24 from Jan. 5 purchase). 15 16 Date 17Jan. 18 Jan. 5 19 20 Jan. 15 Purchases Cost of Goods Sold Inventory Balance I Units 1 Cost T Total Units Cost Total Units Cost Total 60 12.00 | S720.00 $ 60 $12.00 $720.00 40 $14.00 | $560.00 6o $1200 4 40 $14.00 |$1.280.00 T OT 22 2 . LAST IN - FIRST OUT 24 25 Date 26 Jan. 27 Jan. 5 28 29 Jan. 15 Purchases Cost of Goods Sold Inventory Balance I Units 1 Cost T Total Units Cost Total Units Cost Total 6ol $12.00 |$720.00 60 $12.00 $720.00 Aol 1400 $560. $.| 0o 6o $12.00 4 0s14.00 |$1.280.00 T OT 31 13. FIRST IN - FIRST OUT 33 34 Date 35 Jan. 36 Jan. 5 37 38 Jan. 15 Purchases Cost of Goods Sold Inventory Balance I Units 1 Cost T Total Units Cost Total Units Cost Total 6o $12.00 |$720.00 60 $12.00 $720.00 40 $14.00 | $560.00 6o $1200 4 4ol s14.00 |$1280.00 T OT 40 4. WEIGHTED AVERAGE 41 42 P Purchases Cost of Goods Sold Inventory Balance I 43 Date Units 1 Cost T Total Units Cost Total Units Cost Total 44 Jan. 6ol $12.00 |$720.00 60 $12.00 $720.00 45 Jan. 5 40 $14.00 | $560.00 6o $1200 46 40 $14.00 |$1.280.00 17 Jan. 15 T OT