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Chapter 7 Assignment 3 Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but apples its inventory costing method at
Chapter 7 Assignment 3 Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but apples its inventory costing method at the end of each month as if it uses a periodic Inventory system. Assume Oahu Kiki's records show the following for the month of January Sales totalled 330 units. Date Units Unit Cost Total Costa Beginning Inventory January 1 165 5.9.8 $1,017 Purchase January 15 9.9 4,653 Purchase January 24 245 12.8 3,136 070 30 Do Required: 1. Calculate the number and cost of goods available for sale References units Number of goods available for sale Cost of goods available for sale 2. Calculate the number of units in ending inventory Ending inventory 3. Calculate the cost of ending inventory and cost of goods sold using the FIFO and weighted average cost methods. (Do not round Weighted average cost per unit. Round your final answers to the nearest dollar amount.) Ending Inventory Coat of Goods Bodd FIFO Weighted average
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