I do not know how to figure out Average cost of goods sold. That is the only thing I can not figure out. Thank you

A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 B E F G Data Section Unit Quantity 200 100 50 200 150 500 700 500 200 19 Unit Cost $400 $440 480 520 560 Total Cost $80,000 $44,000 24,000 104,000 84,000 256,000 $336,000 Specific Units Sold 200 50 200 50 FIFO Units Sold 200 100 50 150 500 500 these totals must agree with cell B17 LIFO Units Sold 100 50 200 150 500 Calculations Cost of goods sold 25 Ending inventory cost 26 Total goods available 24 27 28 29 30 31 32 D FIFOLIFO Inventory Cost Flow Assumptions Purchase Date Beginning Balance Mar 7 May 13 Aug 28 Nov 20 Total purchased 16 Total available 17 Sales 18 Ending balance 20 21 22 23 C Specific ID FIFO LIFO Average $234,000 $226,000 $256,000 FORM4 102,000 110,000 80,000 FORM8 $336,000 $336,000 $336,000 $0 these totals must agree with cell D16 Answer Section Sales Cost of goods sold 34 Gross profit 35 Taxes (40%) 36 Net income 33 Income Statement Specific ID FIFO LIFO Average $320,000 $320,000 $320,000 $320,000 234,000 226,000 256,000 FORM4 ($86,000) ($94,000) $64,000 $320,000 (34,400) (37,600) 25,600 128,000 ($51,600) ($56,400) $38,400 $192,000 37 38 39 40 41 42 43 44 45 Sales Less inventory replacement Less taxes Less dividends 46 Change in cash account 47 Cash Flow Analysis Specific ID FIFO LIFO Average $320,000 $320,000 $320,000 $320,000 (256,000) (256,000) (256,000) (256,000) $64,000 $64,000 $64,000 $64,000 34,400 37,600 (25,600) (128,000) 25,800 28,200 (19,200) (96,000) $124,200 $129,800 $19,200 ($160,000) H 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 I Answer to Queston #4 a. b. c. d. e. f. g. 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 J h. K L M N O 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 P A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 B E F G Data Section Unit Quantity 200 100 50 200 150 500 700 500 200 19 Unit Cost $400 $440 480 520 560 Total Cost $80,000 $44,000 24,000 104,000 84,000 256,000 $336,000 Specific Units Sold 200 50 200 50 FIFO Units Sold 200 100 50 150 LIFO Units Sold 100 50 200 150 500 500 these totals must agree with cell B17 500 Calculations Cost of goods sold 25 Ending inventory cost 26 Total goods available 24 27 28 29 30 31 32 D FIFOLIFO Inventory Cost Flow Assumptions Purchase Date Beginning Balance Mar 7 May 13 Aug 28 Nov 20 Total purchased 16 Total available 17 Sales 18 Ending balance 20 21 22 23 C Specific ID FIFO LIFO Average FORM1 FORM2 FORM3 FORM4 FORM5 FORM6 FORM7 FORM8 $0 $0 $0 $0 these totals must agree with cell D16 Answer Section Sales Cost of goods sold 34 Gross profit 35 Taxes (40%) 36 Net income 33 Income Statement Specific ID FIFO LIFO $320,000 $320,000 $320,000 FORM9 FORM10 0 FORM11 FORM12 $0 FORM13 FORM14 0 $0 $0 $0 Average $320,000 0 $0 0 $0 37 38 39 40 41 42 43 44 45 Sales Less inventory replacement Less taxes Less dividends 46 Change in cash account 47 Cash Flow Analysis Specific ID FIFO LIFO Average $320,000 $320,000 $320,000 $320,000 (256,000) (256,000) (256,000) (256,000) $64,000 $64,000 $64,000 $64,000 0 0 0 0 0 0 0 0 $0 $0 $0 $0 H 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 I J K L M N Explain what the changes are and why they have taken place. place. O 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 P A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 B E F G Data Section Unit Quantity 200 100 50 200 150 500 700 500 200 19 Unit Cost $400 $440 480 520 560 Total Cost $80,000 $44,000 24,000 104,000 84,000 256,000 $336,000 Specific Units Sold 200 50 200 50 FIFO Units Sold 200 100 50 150 LIFO Units Sold 100 50 200 150 500 500 these totals must agree with cell B17 500 Calculations Cost of goods sold 25 Ending inventory cost 26 Total goods available 24 27 28 29 30 31 32 D FIFOLIFO Inventory Cost Flow Assumptions Purchase Date Beginning Balance Mar 7 May 13 Aug 28 Nov 20 Total purchased 16 Total available 17 Sales 18 Ending balance 20 21 22 23 C Specific ID FIFO LIFO Average FORM1 FORM2 FORM3 FORM4 FORM5 FORM6 FORM7 FORM8 $0 $0 $0 $0 these totals must agree with cell D16 Answer Section Sales Cost of goods sold 34 Gross profit 35 Taxes (40%) 36 Net income 33 Income Statement Specific ID FIFO LIFO $320,000 $320,000 $320,000 FORM9 FORM10 0 FORM11 FORM12 $0 FORM13 FORM14 0 $0 $0 $0 Average $320,000 0 $0 0 $0 37 38 39 40 41 42 43 44 45 Sales Less inventory replacement Less taxes Less dividends 46 Change in cash account 47 Cash Flow Analysis Specific ID FIFO LIFO Average $320,000 $320,000 $320,000 $320,000 (256,000) (256,000) (256,000) (256,000) $64,000 $64,000 $64,000 $64,000 0 0 0 0 0 0 0 0 $0 $0 $0 $0 H 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 I J K L Explain what changes take place and why. M N O 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 P A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 B E F G Data Section Unit Quantity 200 100 50 200 150 500 700 500 200 19 Unit Cost $400 $440 480 520 560 Total Cost $80,000 $44,000 24,000 104,000 84,000 256,000 $336,000 Specific Units Sold 200 50 200 50 FIFO Units Sold 200 100 50 150 LIFO Units Sold 100 50 200 150 500 500 these totals must agree with cell B17 500 Calculations Cost of goods sold 25 Ending inventory cost 26 Total goods available 24 27 28 29 30 31 32 D FIFOLIFO Inventory Cost Flow Assumptions Purchase Date Beginning Balance Mar 7 May 13 Aug 28 Nov 20 Total purchased 16 Total available 17 Sales 18 Ending balance 20 21 22 23 C Specific ID FIFO LIFO Average FORM1 FORM2 FORM3 FORM4 FORM5 FORM6 FORM7 FORM8 $0 $0 $0 $0 these totals must agree with cell D16 Answer Section Sales Cost of goods sold 34 Gross profit 35 Taxes (40%) 36 Net income 33 Income Statement Specific ID FIFO LIFO $320,000 $320,000 $320,000 FORM9 FORM10 0 FORM11 FORM12 $0 FORM13 FORM14 0 $0 $0 $0 Average $320,000 0 $0 0 $0 37 38 39 40 41 42 43 44 45 Sales Less inventory replacement Less taxes Less dividends 46 Change in cash account 47 Cash Flow Analysis Specific ID FIFO LIFO Average $320,000 $320,000 $320,000 $320,000 (256,000) (256,000) (256,000) (256,000) $64,000 $64,000 $64,000 $64,000 0 0 0 0 0 0 0 0 $0 $0 $0 $0 H 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 I J K L M N Explain what happens to net income under each inventory cost flow assumption and why. Also, what \"management\" implications might this have for Del? O 1 2 3 ory cost flow this have4for 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 assumption Del? P A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 B E F G Data Section Unit Quantity 200 100 50 200 150 500 700 500 200 19 Unit Cost $400 $440 480 520 560 Total Cost $80,000 $44,000 24,000 104,000 84,000 256,000 $336,000 Specific Units Sold 200 50 200 50 FIFO Units Sold 200 100 50 150 LIFO Units Sold 100 50 200 150 500 500 these totals must agree with cell B17 500 Calculations Cost of goods sold 25 Ending inventory cost 26 Total goods available 24 27 28 29 30 31 32 D FIFOLIFO Inventory Cost Flow Assumptions Purchase Date Beginning Balance Mar 7 May 13 Aug 28 Nov 20 Total purchased 16 Total available 17 Sales 18 Ending balance 20 21 22 23 C Specific ID FIFO LIFO Average FORM1 FORM2 FORM3 FORM4 FORM5 FORM6 FORM7 FORM8 $0 $0 $0 $0 these totals must agree with cell D16 Answer Section Sales Cost of goods sold 34 Gross profit 35 Taxes (40%) 36 Net income 33 Income Statement Specific ID FIFO LIFO $320,000 $320,000 $320,000 FORM9 FORM10 0 FORM11 FORM12 $0 FORM13 FORM14 0 $0 $0 $0 Average $320,000 0 $0 0 $0 37 38 39 40 41 42 43 44 45 Sales Less inventory replacement Less taxes Less dividends 46 Change in cash account 47 Cash Flow Analysis Specific ID FIFO LIFO Average $320,000 $320,000 $320,000 $320,000 (256,000) (256,000) (256,000) (256,000) $64,000 $64,000 $64,000 $64,000 0 0 0 0 0 0 0 0 $0 $0 $0 $0 On the scre During a de (A) represen Ending Inventory Costs $120,000 (B) which re $100,000 (C)which re $80,000 $60,000 Explain you $40,000 $20,000 $0 A Chart Data Table A B 110000 80000 B C C 98000 On the screen is a column chart showing ending inventory costs. During a deflationary period, which bar (A, B, or C) (A) represents FIFO costing? (B) which represents LIFO costing? (C)which represents weighted average? Explain your reasoning