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Date Units Unit Cost Jan. 1 Inventory (beg.) 1,800 $10.00 Jan. 3 Purchases 16,200 $10.40 Jan. 7 Sales (at $26 per unit) 6,300 Jan.
Date Units Unit Cost Jan. 1 Inventory (beg.) 1,800 $10.00 Jan. 3 Purchases 16,200 $10.40 Jan. 7 Sales (at $26 per unit) 6,300 Jan. 20 Purchases 5,100 $11.00 Jan. 22 Sales (at $27 per unit) 14,400 Jan. 30 Purchases 2,700 $12.00 a. Assuming that Undew maintains a periodic inventory system, compute ending inventory and cast of goods sold for the month ending January 31 using (1) average cost, (2) FIFO, and (3) LIFO. b. Assuming that Undew maintains a perpetual inventory system, compute ending inventory and cost of goods sold for the month ending January 31 using (1) moving average, (2) FIFO, and (3) LIFO. Average cost (periodic) FIFO (periodic) LIFO (periodic) Moving average (perpetual) FIFO (perpetual) LIFO (perpetual) (1) Average cost method (periodic) Computation of Weighted Average Unit Cost Numerator Denominator Result Unit cost $ 6,525 * + 10.85 x - $ 601.38 Note: Use the result EXACTLY as displayed above in the calculations below. Note: Do not use negative signs with any of your answers. Note: Round your final answers to the nearest whole dollar. Average Cost (Periodic) Cost of goods available for sale $ 278,280 Ending Inventory Cost of goods sold 55,575 x $ 220,705 x
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