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Kirtland Corporation uses a periodic Inventory system. At the end of the annual accounting period, December 31, the accounting records for the most popular item

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Kirtland Corporation uses a periodic Inventory system. At the end of the annual accounting period, December 31, the accounting records for the most popular item in inventory showed the following Unita 390 Unit Cost 56.00 Transactions Beginning inventory, January 1 Transactions during the year a. Purchase, January 30 b. Purchase, May 1 c. Sale ($8 each) d. Sale ($8 each) 3.30 7.00 290 450 (150) (690) Required: a. Compute the amount of goods available for sale. b. & c. Compute the amount of ending inventory and cost of goods sold + December 31, under Average cost, First Last-in, first-out and Specific identification inventory costing methods. Specific identification, assume that the for elected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the -as selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete this question by entering your answers in the ta Reg A Req B and C Compute the amount of goods available fiale. Goods available for sale $ 1,130 REGA Lumplete this question by entering your answers in the tabs below. Req A Req B and C Compute the amount of ending inventory and cost of goods sold at December 31 under Average cost in, first-out, Specific identification of the inventory costing methods. For Specific identification, assur selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. A sale was selected from the remainder of the beginning inventory, with the balance from the purchas intermediate calculations. Round your answers to the nearest whole dollar amount.) Average Cost First-In, First- Out Last-In, First- Out Specific Identification $ $ 290 S 957 Ending inventory Cost of goods sold

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