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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 each
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. Unit Cost S 40 July 1 July 5 July 13 July 17 July 25 July 27 44 Units 2,500 1,500 6,500 3,500 8,500 5,500 Beginning Inventory Sold Purchased Sold Purchased Sold 46 Calculate the cost of goods available for sale, ending inventory, and cost of goods sold if Aircard uses (a) FIFO. (6) LIFO, or (C) weighted average cost (Round "Cost per Unit" to 2 decimal places.) Answer is complete but not entirely correct. FIFO LIFO Weighted Average Cost S 777,000 314.800 Cost of Goods Available for Sale 777000 777.000 322.000 Ending Inventory Cost of Goods Sold 310,000 467 000 X XX 455.000 $ $ 310.800
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