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I need help with the fields that are filled in with red. Activities Units Acquired at Cost Date Jan. 1 Beginning inventory235 units Jan. 18
I need help with the fields that are filled in with red.
Activities Units Acquired at Cost Date Jan. 1 Beginning inventory235 units Jan. 18 Sales Jan. 2e Purchase Jan. 25 Sales Jan. 3e Purchase Units sold at Retail 185 units $25.8e 288 units $25.8e 385 units 188 units $15.2,78e 37e units $14.58 51865 $11,825 Totals 785 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 400 units, where 370 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Requlred: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average Perpetual #of units Cost per unit #of units Cost per Cost of sold t per Inventory unit Date Goods Sold! #of units Cos unit Janusry 1 January 10 Janusry 20 235S 16.00 53,760.00 5S 18.00s 800.00 505 18.00 800.00 180|@| S 15.00.-! 2.700.00 3,500.00 135|@ s 16.00|-| $2.960.00 180|@ s 15.00 Average cost January 25 Janusry 30 230 30 30 370|@ s 14.50 370S 14.50 5,385.00 Totals 2,980.00 400Step by Step Solution
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