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Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purc product in 2020 as follows: Jan. 1 Beginning inventory
Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purc product in 2020 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 110 units @$ 7.30 803.00 80 units @$15.80= 330 units @$ 6.60 130 units @$15.80 580 units @$ 6.40 530 units @$ 6.30 710 units @$15.80 1,264.00 = 2,178.00 2,054.00 3,712.00 3,339.00 = 11,218.00 Required: 1. Calculate the total goods available for sale (in units and cost). Units Total goods available for sale Cost 2. Calculate the number of units sold and units remaining in ending inventory 2. Calculate the number of units sold and units remaining in ending inventory. Number of units sold Number units remaining in ending inventory 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.) Ending Inventory Cost of Goods Sold FIFO b. Moving weighted average
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