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Jasper & Williams made purchases of a particular product in the current year as follows: Required: 1. Ending inventory consists of 159 units. Assuming a
Jasper \& Williams made purchases of a particular product in the current year as follows: Required: 1. Ending inventory consists of 159 units. Assuming a periodic system, determine the costs to be assigned to cost of goods sold and ending inventory under: (Round your intermediate calculations and final answers to 2 decimal places.) 2. Which method provides the lower profit? FIFO Weighted-average cost Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Required: 1. Calculate the total goods available for sale (in units and cost). 2. Calculate the number of units sold and units remaining in ending inventory. 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.) Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Urban Glam Cosmetics made sales on the following dates at a selling price of $36 per unit: 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.) 2. Also calculate the gross profit under each method. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)
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