Exercise 5-3A (Algo) Allocating product cost between cost of goods sold and ending inventory: multiple purchases LO 5-1

Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 120 units at $55 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 142-unit purchase at $62 per unit; the second was a 220-unit purchase at $66 per unit. During the period, it sold 286 chairs. Required a-1. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez uses FIFO. a-2. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses FIFO.

Determine the amount of product costs that would be allocated to cost of goods Sold, assuming that Curtez u5e5 LIFO. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses FIFO. FIFO Units Unit Cost Ending Inventory ILLU = $ 0Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses LIFO. LIFO Units Unit Cost Ending Inventory 0 Total ending inventory $ 0Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses Weighted average. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Cost of goods sold units Ending inventory units $ 0