Bramble Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date June Unit Cost/Price $4 5 Total Cost $6,360 10,500 Explanation Beginning inventory Purchases Sale Purchases Purchases Sales NEW UB Units 1,590 2,100 (2,610) 4,830 1,430 (5,810) 12 6 28,980 10,010 7 15 (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, eg. 1.25.) search O 9 ASUS VIVOBOOK 18O 19 home #10 end 411 Poup 151200dn (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, e.g. 1.25.) FIFO Average Cost of goods sold $ Cost of ending inventory $ $ e Textbook and Media Question of 10 K Blue Inc. reported the following partial statement of income data for the years ended December 31, 2021, and 2020: Sales Cost of goods sold Gross profit 2021 $257,000 194,000 63,000 2020 $247.000 189,696 57,304 The company reported inventory in the statement of financial position at $43,100,$53,500, and $48,200 at the end of 201 and 2021, respectively. The ending inventory amounts for 2019 and 2021 are correct. However, the ending inventory at De 31, 2020, is understated by $8,645. Prepare correct statements of income for 2020 and 2021 through to gross profit. 2021 2020 Sales $ $ Cost of goods sold Gross profit $ $ eTextbook and Media Save for Later Attempts: 0 of 1 Shippers Ltd. had the following inventory situations to consider at January 31, its year end: Identify which of the below items should be included in inventory. If an item should be included in inventory then choose "Inventory" and If an item should not be included in inventory then state where it should be recorded. 1. Do not include v Does not own goods 2. Include Inventory > 3. Include Inventory 4. Goods held on consignment for Boxes Unlimited since December 22. Goods that are still in transit, shipped to a customer FOB destination on January 29. Goods shipped on consignment to Rinehart Holdings Ltd. on January 5. Freight costs due on goods in transit from item 2 above. Goods that are still in transit, purchased FOB destination from a supplier on January 25. Goods that are still in transit, purchased FOB shipping point from a supplier on January 25. Goods that are still in transit, shipped to a customer FOB shipping point on January 29. Include Freight out 5. Include