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100 $60 Cortez Company sellschairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $50 per unit. During the
100 $60 Cortez Company sellschairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $50 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. 150 200 $68 $72 270 Required al. 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 Units Unit Cost FIFO From beginning inventory From first purchase From second purchase 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.) FIFO Ending Inventory Units Unit Cost bl. 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.) LIFO Ending Inventory 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.) Cost of goods sold Ending inventory units units
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