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ABC Co. has the following information in 2020: 2020 Units Unit cost Total Cost Jan 1 Beginning Inventory 21 $57 $1197 Purchases: Mar 28 Purchase

ABC Co. has the following information in 2020:

2020 Units Unit cost Total Cost
Jan 1 Beginning Inventory 21 $57 $1197
Purchases:
Mar 28 Purchase 27 66 1782
Aug 22 Purchase 34 71

2414

Oct 14 Purchase 27 76 2052
Goods Available for Sale 109 $7445
Sales: Unit Sales Price Revenue
May 1 Sales 36 $100 $3600
Oct 28 Sales 26 $100 $2600
Total Revenue 62 $6200

Required:

Calculate the company's ending inventory and cost of goods sold under the following assumptions. Provide your answers in the space given below.

a. using the Weighted Average inventory costing methods, assuming the company uses the periodic system;

Weight Average Cost per Unit: Blank 1. Calculate the answer by read surrounding text.
Ending Inventory: Blank 2. Calculate the answer by read surrounding text.
Cost of Goods Sol Blank 3. Calculate the answer by read surrounding text.

b. using the FIFO inventory costing methods, assuming the company uses the periodic system;

Ending Inventory: Blank 4. Calculate the answer by read surrounding text.
Cost of Goods Sold: Blank 5. Calculate the answer by read surrounding text.

c. using the FIFO inventory costing method, assuming the company uses the perpetual system;

Cost of Goods Sold: Blank 6. Calculate the answer by read surrounding text.
Ending Inventory: Blank 7. Calculate the answer by read surrounding text.

d. using the Weighted Average inventory costing method, assuming the company uses the perpetual system.

Cost of Goods Sold: Blank 8. Calculate the answer by read surrounding text.
Ending Inventory: Blank 9. Calculate the answer by read surrounding text.

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