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3 (Ch 6 & 7) i 9 10 points Skipped Mc Graw Hill Saved Help Save & Exit Submit Oahu Kiki tracks the number of
3 (Ch 6 & 7) i 9 10 points Skipped Mc Graw Hill Saved Help Save & Exit Submit 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 380 units. Beginning Inventory Purchase Purchase Date Units January 1 January 15 January 24 190 520 Unit Cost $10.8 10.4 Total Cost $2,052 270 13.8 5,408 3,726 Required: 1. Calculate the number and cost of goods available for sale. Number of goods available for sale 980 units Cost of goods available for sale $ 11,186 2. Calculate the number of units in ending inventory. Ending inventory 600 units < Prev 9 of 14 Next > Assignment 3 (Ch 6 & 7) i 9 2. Calculate the number of units in ending inventory. 10 points Skipped Mc Graw Hill Ending inventory 600 units Saved Help Save & Exit Submit 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.) FIFO Weighted average Ending Cost of Inventory Goods Sold $ 7,158 Prev 9 of 14 Next >
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