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Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Beginning inventory, January 1,

Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system.

Beginning inventory, January 1, 2018 1,250 units @ $90 each
Purchases:
January 15 2,600 units @ $105 each
January 21 2,400 units @ $110 each
Sales:
January 5 1,200 units @ $130 each
January 22 1,600 units @ $140 each
January 29 1,050 units @ $145 each
Ending inventory, January 31, 2018 2,400 units

Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods.

Please fill in the answer in all the spaces I put an "A" in. Will give good feedback, thanks!

FIFO Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO
# of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beginning Inventory A A $0 A $0 $0 A $0 $0
Purchases:
January 15 A A 0 A $0 0 A $0 0
January 21 A A 0 A $0 0 A $0 0
Total 0 $0 0 $0 0 $0
LIFO Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO
# of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beginning Inventory A A $0 A $0 $0 A $0 $0
Purchases:
January 15 A A 0 A $0 0 A $0 0
January 21 A A 0 A $0 0 A $0 0
Total 0 $0 0 $0 0 $0

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