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12. (12 pts) The Costup Company sells many products. Top is one of its popular items. Below is an analysis of the inventory purchases and
12. (12 pts) The Costup Company sells many products. Top is one of its popular items. Below is an analysis of the inventory purchases and sales of Top for the month of March: 3/1 Beginning inventory 40 units at $9 3/8 Purchased 100 units at $10 3/15 Sold 40 units at $25 3/17 Sold 80 units at $25 3/20 Purchased 90 units at $11 2/25 Sold 60 units at $25 a) Provide the following assuming Cog Company uses a perpetual inventory system. FIFO - Ending Inventory $ LIFO - Cost of Goods Sold $ Moving Average - Gross Profit b) Now, provide the following assuming Cog Company uses a periodic inventory system. FIFO - Gross Profit LIFO - Cost of Goods Sold Weighted Average - Ending Inventory $
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