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Ayayai Ltd. had a beginning inventory on January 1 of 250 units of product SXL at a cost of $157 per unit. During the year,
Ayayai Ltd. had a beginning inventory on January 1 of 250 units of product SXL at a cost of $157 per unit. During the year, purchases were as follows: Mar. 15 July 20 Sept. 4 Dec. 2 Units Unit Cost Total Cost 700 $150 $105,000 500 1 46 73,000 450 134 60,300 100 124 12,400 60 Ayayai uses a periodic inventory system. At the end of the year, a physical inventory count determined that there were 200 units on hand. Determine the cost of the ending inventory and the cost of the goods sold using (1) FIFO and (2) average cost. (Do not round weighted average unit cost. Round Average answers to 2 decimal places, e.g. 5.25.) FIFO Average Ending Inventory $ 25,800 Cost of Goods Sold $ 237,300 Attempts: 1 of 3 used
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