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Item2 3points Check my workCheck My Work button is now enabled3 Item2 Urban Glam Cosmetics made purchases of lipstick in the current year as follows:
Item2
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Check my workCheck My Work button is now enabled3
Item2
Urban Glam Cosmetics made purchases of lipstick in the current year as follows:
Jan. 1 Beginning inventory | 101 | units | @ | $ | 13.00 | = | $ | 1,313 | ||
Mar. 14 Purchased | 380 | units | @ | $ | 14.00 | = | 5,320 | |||
July 30 Purchased | 630 | units | @ | $ | 15.00 | = | 9,450 | |||
Units available for sale | 1,111 | units | ||||||||
Cost of goods available for sale | $ | 16,083 | ||||||||
Urban Glam Cosmetics made sales on the following dates at a selling price of $36 per unit:
Jan. | 10 | 83 | units | ||
Mar. | 15 | 310 | units | ||
Oct. | 5 | 580 | units | ||
Totals | 973 | units | |||
Required:
The business uses a perpetual inventory system.
1. Determine the costs that should be assigned to the ending inventory and to goods sold under the following methods. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)
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