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2. Calculate the number of units in ending inventory. Ending inventory 660 units 3. Calculate the cost of ending inventory and cost of goods sold
2. Calculate the number of units in ending inventory. Ending inventory 660 units 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO and (b) weighted average cost methods. (Do not round Weighted average cost per unit. Round your final answers to the nearest dollar amount.) Ending Inventory Goods Sold Cost of FIFO Weighted average Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totalled 440 units. Beginning Inventory Purchase Purchase Date January Units Unit Cost Total Cost 1 220 $12.0 $2,640 January 15 January 580 11.0 6,380 24 300 15.0 4,500 Required: 1. Calculate the number and cost of goods available for sale. Number of goods available for sale Cost of goods available for sale 1,100 units $ 13,520
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