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i need answer this qustion please very importan Audio World sells high-performance stereo equipment. Simmons Acoustic recently introduced the Carnegie-440, a state of the art

i need answer this qustion please very importan

Audio World sells high-performance stereo equipment. Simmons Acoustic recently introduced the Carnegie-440, a state of the art speaker system. During the current year, Audio World purchased nine of these speaker systems from Simmons Acoustic at the following dates and acquisition costs:

Date

Units Purchased

Unit Cost (RM)

Total Cost (RM)

Oct. 1

2

3,000

6,000

Nov. 17

3

3,200

9,600

Dec. 1

4

3,250

13,000

Available for sale during the year

9

28,600

On November 21, Audio World sold four of these speaker systems to the Denver Symphony. The other five Carnegie-440 remained in Audio Worlds inventory at December 31.

Require

Assume that Audio World uses a perpetual inventory system. Compute (1) the cost of goods sold relating to the sale of Cornegie-440 speakers to the Denver Symphony and (2) the ending inventory of these speakers at December 31, using each of the following flow assumptions:

a- Average Cost

b- First-in, first-out (FIFO)

c- Last-in, first-out (LIFO)

Show the number of units and the unit cost of the cost layers comprising the cost of goods sold and the ending inventory.

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