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BJB Inc. imports and sells then good quality frisbees right here in Canada. The company's fiscal year ends on Dec. 31. Demand for frisbees has
BJB Inc. imports and sells then good quality frisbees right here in Canada. The company's fiscal year ends on Dec. 31. Demand for frisbees has grown thanks to the pandemic: playing outdoors is known to be safer than playing indoors. Therefore the costs of frisbees from foreign suppliers have been rising rather dramatically. Here is inventory data from the past year (2020) for BJB, showing units and their cost: Opening Inventory Jan 1, 2020: 5,000 frisbees @ $2.50/each Purchase Jan. 20, 2020: 28,000 frisbees @ $4.00/each Purchase March 23, 2020: 75,000 frisbees @ $6.20/each Purchase June 3, 2020: 36,000 frisbees @ $8.80/each Purchase September 30, 2020: 25,000 frisbees @ $12.00/each Purchase Jan 20, 2020: 28,000 frisbees @ $4.00/each Purchase March 23, 2020: 75,000 frisbees @ $6.20/each Purchase June 3, 2020: 36,000 frisbees @ $8.80/each Purchase September 30, 2020: 25,000 frisbees @ $12.00/each At its yearend of Dec. 31, 2020, PPE counted 8,483 frisbees remaining. REQUIRED: a. Find the value of ending inventory and Cost of Goods Sold for BJB, using -I. FIFO REQUIRED: a. Find the value of ending inventory and cost of Goods Sold for BJB, using -. FIFO ii. LIFO ini. Weighted Average c. IF BJB were located in the U.S., would your answer to part b remain the same, or would it be different? Explain why you answered as you did
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