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Husky Lead has had the following inventory entries in the month of December. Beginning Inventory 1000 units @ $10 each Dec. 1 Purchased 3,000 units

Husky Lead has had the following inventory entries in the month of December.

Beginning Inventory 1000 units @ $10 each

Dec. 1 Purchased 3,000 units @ $15 each

Dec. 5 Purchased 4,000 units @ $20 each

Dec 12 Purchased 6,000 units @ 30 each

Dec 20 Purchased 12,000 units @ 28 each

Sold 3,000 units on Dec. 7 for $100 each

Sold 6,000 units on Dec. 14 for $350 each

  1. Using FIFO Perpetual determine the cost of goods sold for HUSKY Lead.
  2. Using LIFO Perpetual determine the cost of goods sold for HUSKY Lead.
  3. Using FIFO Periodic determine ending inventory.
  4. Using Weighted Average periodic determine the gross margin for Husky.
  5. Determine the Cost of Goods Available for Husky.

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