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Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as
Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Jan. 10 Mar. 7 Mar. 15 July 28 Oct. 3 Oct. 5 Beginning inventory. Sold Purchased. Sold. Purchased. Purchased. Sold. 110 units @ 80 units @ 300 units @ 130 units @ 550 units @ 500 units @ 670 units @ a. FIFO b. Moving weighted average $7.00 = $15.50 $6.30 $15.50 = $6.10 = $6.00 = $15.50 $ 770 1,240 1,890 2,015 3.355 3,000 10.385 Required 1. Calculate the total goods available for sale (in units and cost). 2. Calculate the number of units sold and units remaining in ending inventory. 3. Determine the share of the cost of goods available for sale calculated in Part I that should be assigned to ending inventory and to goods sold under:
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