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i need help with this question and understanding which numbers to use when calculating. there are three parts to the question that are labled required
i need help with this question and understanding which numbers to use when calculating. there are three parts to the question that are labled "required" 1, 2 and 3. thanks
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 300 units. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units 220 310 270 Unit Cost $ 80 90 110 Total Cost $ 17,600 27,900 29,700 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. Required 1 Required 2 Required 3 Calculate the number and cost of goods available for sale. units Number of Goods Available for Sale Cost of Goods Available for Sale Required 1 Required 2 Required 3 Calculate the number of units in ending inventory. Ending Inventory units Required 1 Required 2 Required 3 Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. Cost of Ending Cost of Goods Inventory Sold FIFO LIFO Weighted Average Cost Step by Step Solution
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