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help with LIFO/ FIFO questions Undew Inc.'s inventory records showed the following data for an item it sells regularly. Date Units Unit Cost Jan 1

help with LIFO/ FIFO questions

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Undew Inc.'s inventory records showed the following data for an item it sells regularly. Date Units Unit Cost Jan 1 Inventory 1,800 $10.00 Jan 3 Purchases 16,200 10.40 Jan 7 Sales (at $26 per unit) 6,300 Jan 20 Purchases 5,400 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 cost of goods sold for the month-ended January 31 using (1) average cost, (2) FIFO, and (3) LIFO. Note: Round your final answers only to the nearest dollar. Note: Do not round the cost per unit amounts in your calculations. Perpetual Inventory System Ending Inventory COGS 1. Average cost method. $ 0 $ O 2. FIFO method. 0 3. LIFO method. O o O b. Assuming that Undew maintains a perpetual inventory system, compute ending inventory and cost of goods sold for the month-ended January 31 using (1) moving average, (2) FIFO, and (3) LIFO. Note: Round your final answers only to the nearest dollar. Note: Do not round the cost per unit amounts in your calculations. Perpetual Inventory System Ending Inventory COGS 1. Moving average method. $ 0 $ 0 2. FIFO method. 0 3. LIFO method. 0 O O

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