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Lannister Inc: holds 12,000 units of inventory on January 1, 2017 Under FIFO (first-in, first-out) the inventory lot costs are: Under LIFO (last-in, first-out) the

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Lannister Inc: holds 12,000 units of inventory on January 1, 2017 Under FIFO (first-in, first-out) the inventory lot costs are: Under LIFO (last-in, first-out) the same inventory has the following lot costs: Under average cost the same 12,000 inventory units have a total cost of $1,320,700. During January 2017, Lannister records the following transactions (in chroriological order): - Sells 6,000 units of inventory with revenue of $165 per unit: - Purchases 3,000 units of inventory at a cost of $140 per unit. - Sells 1,000 units of inventory with revenue of $170 per unit. - Purchases 5,000 units of inventory at a cost of $125 per unit. - Sells 2.000 units of inventory with revenue of $184 per unit. - Counts ending inventory units of 11,000 units on January 31 In answering the following questions, assume that Lannister uses a periodic inventory system. Do not include a $ with a instructed, enter your answers as whole numbers a. How many units of inventory did Lannister have available for sale doring the month of January? b. Using FIFO, what was Lannister's cost of goods avallable for sale (COGAS) for January?S c. Using FIFO, what was the value of Lannister's ending inventory on January 31,20172.5 d. Using FIFO, what was Lannister's cost of goods sold (COGS) for January? $ e. Using LIFO, what was Lannister's cost of goods ayailable for sale (COGAS) for January? 5 1. Using LiFO, what was the value of Lannister's ending inventery on January 31.2017 ? $ g. Using L.IFO, what was Lannister's cost of goods sold (COGS) for fanuary? hi Using averege cost, what was Lannister's cost of goods avalable for sale (COGAS) for January? 1 IUsing the rounded average cost vahue you computed in pant what was the value of Lonisters ending invertory on January 31.2017?7 K. Using your answe1s 10 h and j above, what was Lannisters cost of goode sold (COGS) for January ysing average cost? s

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