E7-5 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies 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 af January. Sales totaled 310 units. Date Units Unit Cost Total Cost Beginning Inventory Purchase Purchase January 15 470 January 24 240 January 1 4085 95 115 $11,900 44,650 27,600 Required 1. Calculate the number and cost of goods available for sale Number of Goods Available for Sale 850 units Cost of Goods Available for Sale S 84.150 2. Calculate the number of units in ending inventory Ending Inventory 540 units 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) welghted average cost methods. Cost of Ending Inventory Cost of Goods Sold FIFO LIFO Weighted Average Cost