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ation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fualearn.blackboard.com170 ation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2 Saved o ua earn. Help Save & Exit 7-7 (Algo) Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO,

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ation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fualearn.blackboard.com170

ation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2 Saved o ua earn. Help Save & Exit 7-7 (Algo) Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, ar eighted Average Cost [LO 7-3] Oahu Kiki tracks the number of units purchased and sold throughout each accounting pefiod but applies its inventory costing metho at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 270 units. Beginning Inventory Purchase Purchase Required: Date January 1 January 15 January 24 Units 140 300 240 Unit Cost $75- 85 105 'Total Cost $ 10, see. see 25, 1. Calculate the numberand cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods.

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