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100 $60 Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit. During
100 $60 Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 150-unit purchase at $68 per unit; the second was a 200-unit purchase at $72 per unit. During the period, it sold 270 chairs. 150 $68 $72 200 270 Required a1. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez uses FIFO. (Use the cells from the given information to complete this question.) Cost of Goods Sold FIFO Units Unit Cost @ Total a2. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses FIFO. (Use the cells from the given information to complete this question.) Ending Inventory FIFO Units Unit Cost @ = a2. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses FIFO. (Use the cells from the given information to complete this question.) Ending Inventory FIFO Units Unit Cost b1. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez uses LIFO. (Use the cells from the given information to complete this question.) Cost of Goods Sold LIFO Units Unit Cost @ = Total b2. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses LIFO. (Use the cells from the given information to complete this question.) Ending Inventory LIFO Units Unit Cost = Total ending inventory c. Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses Weighted average. (Use the cells from the given information to complete this question.) units @ Cost of goods sold Ending inventory units
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