6. A company reported the following December purchases and sales data for its only product.(16 marks)

Date Activities Units Acquired at Cost Units Sold at Retail Dec. 01 Beginning inventory 5 units@$3.00=$15.00 Dec. 08 Purchase 10 units@$4.50=$45.00 Dec. 09 Sales 8 units@$7.00 Dec. 19 Purchase 13 units@$5.00=$65.00 Dec. 24 Sales 18 units@$8.00 Dec. 30 Purchase 8 units@$5.30=$42.40 36 units $167.40 26 units

The company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) FIFO, (c) LIFO, and (d) weighted average. (Round

per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 10 units, where eight are from the December 30 purchase and two are from the December 8 purchase.

6. A company reported the following December purchases and sales data for its only product.(16 marks) Date Activities Units Acquired at Cost Units Sold at Retail Dec. 01 Beginning inventory 5 units@$3.00=$15.00 Dec. 08 Purchase 10 units@$4.50=$45.00 Dec. 09 Sales 8 units@$7.00 Dec. 19 Purchase 13 units@$5.00=$65.00 Dec. 24 Sales 18 units@$8.00 Dec. 30 Purchase 8 units@$5.30=$42.40 36 units $167.40 26 units The company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) FIFO, (c) LIFO, and (d) weighted average. (Round per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 10 units, where eight are fro the December 30 purchase and two are from the December 8 purchase