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Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of
Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July. Units Unit Cost July 1 July 5 July 13 Beginning Inventory 2,500 $ 30 Sold 1,500 Purchased 6,500 34 July 17 July 25 July 27 Sold 3,500 Purchased Sold 8,500 5,500 36 Calculate the cost of goods available for sale, ending inventory, and cost of goods sold if Aircard uses (a) FIFO, (b) LIFO, or (c) weighted average cost. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Weighted Average FIFO LIFO Cost
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