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can i please have assistance filling in the boxes with a quick explanantion on how the number was derived - thanks P7-2 (Algo) Analyzing the

can i please have assistance filling in the boxes with a quick explanantion on how the number was derived - thanks
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P7-2 (Algo) Analyzing the Effects of Four Alternative Inventory Methods LO7-2 Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, the accounting records for the most popular item in inventory showed the following transactions Units Unit Cost Beginning inventory, January 1 490 14.00 Transactions during the year # Purchase, January 30 390 b. Purchase, May 1 350 5.00 c. Sale (56 each) 4250) d. Sale 106 each (7903 4.30 Required: a. Compute the amount of goods available for sale b.& c. Compute the amount of ending inventory and cost of goods sold at December 31, under Average cost, First in, first-out, Last-in. first-out and Specific identification Inventory costing methods. For Specific identification, assume that the first sale was selected two fifths from the beginning inventory and three-fifths from the purchase January 30. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1 Complete this question by entering your answers in the tabs below. Key A Rent and c Compute the amount of ending Inventory and cost of goods sold at December 31 unter Average cost, Fistin, first-out, Last in, first-out, Specific identification of the inventory costing methods. For Specific identification, assume that the first sale was selected two fifths from the beginning inventory and three-fiths from the purchase of January 30. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. (Do not found intermediate calculations. Round your answers to the nearest whole dollar amount.) Show less Average Cout First-In, First Out Last-In, First Out Specific Identification $ 4 Ending inventory Cont of goods sold 6 3

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