1)Determine the cost of goods available for sale. The cost of goods available for sale $ Show Solution

2)Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Average cost per unit $ Show Solution

3). Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average). (Round answers to 0 decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ Show Solution

4)Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement? (1) results in the highest inventory amount, $. (2) produces the highest cost of goods sold, $.

Bonita Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. Mar. 15 July 20 430 units 220 units at at $22 $24 Sept. 4 Dec. 2 300 units 100 units at at $25 $29 1,035 units were sold. Bonita Company uses a periodic inventory system