Inventory Cost Flow Assumptions (20 Points)

A) Ushuiaia LLP began operations on January 1, 2018. The 2018 and 2019 schedules of inventory purchases and sales are as follows:

Date Explanation Units Unit Cost Total Cost Balance in Units

4/15/18 Purchase 100 $30

8/24/18 Purchase 120 $34

9/17/18 Sales 170 $40

3/21/19 Purchase 110 $35

4/16/19 Purchase 130 $36

10/5/19 Sales 180 $42

Complete the following schedule

2018 FIFO Weighted Average LIFO

COGS

Gross Profit

Ending Inventory

2019 FIFO Weighted Average LIFO

COGS

Gross Profit

Ending Inventory