2. . During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows: Units Cost per unit 100 12 Begin Inventory Sale Jan 5 50 10 Purchase 70 16 15 Sale 25 25 Sale 35 Prepare a schedule to show the cost of goods sold and ending inventory using the moving weighted average method of costing rounding calculations to two decimals. 1. During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows: Units Cost per unit Begin Inventory 100 12 Jan5 Sale 50 10 Purchase 70 16 15 Sale 25 25 Sale 35 Prepare a schedule to show the cost of goods sold and ending inventory using the FIFO cost flow assumption 3. Bethel Co. has collected the following data related to its ending inventory: Product Units on Hand Unit Cost Unit NRV 849 200 $12 $11 842 160 $13 $14 847 85 $12 $13 860 40 $21 $22 Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis. 4. Finch Company is preparing the annual financial statements dated December 31, 2010. Information about inventory stocked for regular sale follows: Quantity on Hand Unit Cost Replacement Cost When Acquired (market) at year end Item A 50 $20 $19 B 100 45 45 20 60 62 D 40 40 37 Instructions Compute the valuation for the December 31, 2010, inventory using the lower-of-cost-or-market basis