Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,250.)

		Purchases						Cost of Goods Sold						Balance
Date		Units		Cost		Total		Units		Cost		Total		Units		Cost		Total		Units		Total Cost		WA Cost Per unit
Apr-01		Beginning Inventory
		30		$13		$390								30		$13		$390
Apr-15		51		$15		$765										$		$		30		$390
																				51		$765
																						$		$
Apr-20								32		$		$				$		$		81		$1,155
																				-32		$456.32
																						$		$
Apr-23		46		$16		$736								95		$		$		49		$698.68
																				46		$736
																						$		$
Apr-28								54		$		$		41		$		$		95		$1,434.68
																				-54		$815.40
																				41		$		$
		127				$1,891		86				$		41				$619.28

Calculate the cost of goods sold and ending inventory using FIFO. (HINT: Use two rows to show your cost of goods sold calculation in layers)

		Purchases						Cost of Goods Sold						Inventory Balance
Date		Units		Cost		Total		Units		Cost		Total		Units		Cost		Total
Apr-01		Beginning Inventory
		30		$13		$390								30		$13		$390
Apr-15		51		$15		$765								30		$13		390
																$		$
Apr-20								30		$		$
								2		$		$				$		$
Apr-23		46		$16		$736										$		$
																$		$
Apr-28								49		$		$
								5		$		$		41		$		$
		127				$1,891		86				$		41				$656

Which method gives the highest COGS? Weighted averageFIFO Why? Newest costs included under FIFOOldest costs included under FIFOOldest costs included under Weighted Average