Jasper & Williams made purchases of a particular product in the current year as follows: Jan. 1 Beginning inventory Mar. 7 Purchased July 28 Purchased Oct. 3 Purchased Totals a. FIFO Required: 1. Ending inventory consists of 164 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.) b. Weighted average cost 110 units @ $2.30 = $ 245 units @$2.40 = 490 units @ $2.50 = 50 units @$2.60 = 895 units Ending Inventory 253 588 Cost of Goods Sold 1,225 130 $ 2,196

Jasper \& Williams made purchases of a particular product in the current year as follows: Required: 1. Ending inventory consists of 164 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.) Required: 1. Ending inventory consists of 164 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? Weighted-average cost FIFO