45 B.1a Cost of Goods Sold Cost of goods available for sale Less: Ending inventory Cost of goods sold \begin{tabular}{|l|} \hline \\ \hline$ \\ \hline \end{tabular} B.1b Proof of Cost of Goods Sold \begin{tabular}{|c|c|c|c|c|} \hline 51 & Date & Units & Unit Cost & Total Cost \\ \hline 52 & Jan1 & & 8.00 & \\ \hline 53 & Feb 20 & & 9.00 & \\ \hline 54 & May 5 & & 10.00 & \\ \hline 3 & Aug 12 & & 11.00 & \\ \hline & & - & & $ \\ \hline \end{tabular} 58 59 60 B.2 Ending Inventory UFO \begin{tabular}{|c|c|c|c|c|} \hline 61 & Date & Units & Unit Cost & Total Cost \\ \hline 62 & Jan 1 & & 8.00 & \\ \hline & Feb 20 & & 9.00 & \\ \hline & & - & & - \\ \hline \end{tabular} 66 B.2a Cost of Goods Sold 67 Cost of goods available for sale Less: Ending inventory Cost of goods sold \begin{tabular}{|l|l|} \hline$ & 15,100.00 \\ \hline \end{tabular} \begin{tabular}{ll|l} 71 & B.2c Proof of Cost of Goods Sold \end{tabular} 72 73 Dec 8 Aug 12 May 5 Feb 20 \begin{tabular}{|r|r|} \hline Units \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|r|r|} \hline \multicolumn{1}{|c|}{ Unit cost } & Total Cost \\ \hline 12.00 & \\ \hline 11.00 & \\ \hline 10.00 & \\ \hline 9.00 & \\ & $ \\ & \\ \hline \end{tabular} B. 3 Goods available for sale AVERAGE-COST Units available for sale Average cost per unit P6.3 Determine cost of goods sold and ending inventory using FIFO, UFO, and average-cost in a periodic inventory system and assess financlal statement effects. Vista Company Inc* " had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were: * Vista Company uses a periodic inventory system. 5ales totaled 1,500 units. Instructions A. Determine the cost of goods avalable for sale. B. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, UFO, and average-cost). Prove the accuracy of the cost of goods sold under the FiFO and UFO methods. (Round average unit cost to three decimal places.) C. Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? NOTE: Enter your work in the yellow shaded areas below. FiFO Ending imventocy =1,7001,500=200 units