During April, Leary Company sold 1,000 units of Product Q Product Q's beginning inventory and purchases during the month are shown below (Assume the periodic inventory system is used ) Assignment Template attached below April 1Beginning inventory200 units $1April 5Purchases200 units $2April 10Purchases200 units $3April 15Purchases200 units $4April 20Purchases200 units $5April 25Purchases200 units $6 Required Use the periodic inventory system to answer the following questions Compute the total units available for sale Compute the total cost of the units available for sale Compute the FIFO cost of goods sold (COGS) in dollars Compute the FIFO ending inventory (EI) in dollars Compute the LIFO COGS in dollars Compute the LIFO EI in dollars Compute the weighted average COGS in dollars Compute the weighted average EI in dollars Prove the sum of COGS and EI for each method equals the goods available for sale for both units and dollars Compute the gross profit (GP) for each method assuming the 1000 units were sold for $10 each Instructions Finnish the assignment using an Excel spreadsheet, and date and explain each entry on your deliverable Assignment must use this Template Leary Month of April Inventory Ending Inventory and COGS Option 1 Mod 4 Protfolio Project Student Template Date Inentory Activity 1 Apr Briginning Inventory (BI) 5 Apr Purchases (Transferred in or TI) 10 Apr Purchases (Transferred in or TI) 15 Apr Purchases (Transferred in or TI) 20 Apr Purchases (Transferred in or TI) 25 Apr Purchases (Transferred in or TI) Q1 TOTAL Goods Avail for Sale(units and $) Given Units sold (transferred out or TO) Units $ Cost Total Cost MustKnow Inventory Formula Units EI Q2 Average cost EI Good available for sale$ Goods available for sale units EI units in inventory average cost COGS BI TI EI BI TI $4,200 COGS $3,500 Q3 LIFO First In, Still Here for EI EI COGS BI TI EI BI TI EI Q4 FIFO Last In, Still Here for EI EI COGS BI TI EI BI TI EI Question 5 Show work speadsheet on how you calculated the numbers

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During April, Leary Company sold 1,000 units of Product Q. Product Q's beginning inventory and purchases during the month are shown below. (Assume the periodic

During April, Leary Company sold 1,000 units of Product Q. Product Q's beginning inventory and purchases during the month are shown below. (Assume the periodic inventory system is used.)

Assignment Template attached below.

April 1Beginning inventory200 units @ $1April 5Purchases200 units @ $2April 10Purchases200 units @ $3April 15Purchases200 units @ $4April 20Purchases200 units @ $5April 25Purchases200 units @ $6Required:Use the periodic inventory system to answer the following questions.

Compute the total units available for sale.
Compute the total cost of the units available for sale.
Compute the FIFO cost of goods sold (COGS) in dollars.
Compute the FIFO ending inventory (EI) in dollars.
Compute the LIFO COGS in dollars.
Compute the LIFO EI in dollars.
Compute the weighted average COGS in dollars.
Compute the weighted average EI in dollars.
Prove the sum of COGS and EI for each method equals the goods available for sale for both units and dollars.
Compute the gross profit (GP) for each method assuming the 1000 units were sold for $10 each.

Instructions:

Finnish the assignment using an Excel spreadsheet, and date and explain each entry on your deliverable. Assignment must use this Template

Leary Month of April Inventory Ending Inventory and COGS Option #1- Mod 4- Protfolio Project Student Template Date Inentory Activity 1-Apr Briginning Inventory (BI) 5-Apr Purchases (Transferred in or TI) 10-Apr Purchases (Transferred in or TI) 15-Apr Purchases (Transferred in or TI) 20-Apr Purchases (Transferred in or TI) 25-Apr Purchases (Transferred in or TI) Q1: TOTAL Goods Avail for Sale(units and $) Given: Units sold (transferred out or TO) += # Units $ Cost Total Cost MustKnow: Inventory Formula= Units = EI= Q2: Average cost= EI= Good available for sale$ / Goods available for sale units= EI= units in inventory * average cost= COGS= BI + TI - EI BI + TI = $4,200; COGS = $3,500 Q3: LIFO= First-In, Still-Here for EI = EI= COGS= BI + TI - EI BI + TI = EI = Q4: FIFO= Last-In, Still- Here for EI= EI COGS= BI + TI - EI BI + TI = EI = Question 5- Show work speadsheet on how you calculated the numbers