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Aster Systems In response to the request of customers, Aster Systems has decided to begin selling webcams. The company has the following inventory purchases during
Aster Systems In response to the request of customers, Aster Systems has decided to begin selling webcams. The company has the following inventory purchases during the fiscal year ending December 31, 2021: Date Units (#) Unit Price Oct. 1 (Beginning Inventory) 525 $60/unit Oct. 20 350 $65/unit 250 $82/unit Dec. 15 Aster Systems had the following credit sales during period with a selling price of $135 per unit. Date Nov. 15 Dec. 20 Units (#) 465 400 Aster Systems uses a perpetual inventory system. Required: 1 Calculate the dollar value of Cost of Goods Sold (COGS) and Ending Inventory using the First-In First-Out (FIFO) costing method. (34 marks) 2. Calculate the dollar value of Cost of Goods Sold (COGS) and Ending Inventory using the Moving Weighted Average costing method. Round to two decimal places. (26 marks) Assignment Details: Included in the Assignment Package is the Worksheet used in the textbook and reviewed in class. While you do not need the worksheet to complete the assignment, it may help. If you use the worksheet, please ensure you hand it in with your assignment
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