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Meijer Corporation has the following information for its inventory for the month of January 2022. Date Price 1/4 Description Quantity Beginning 4,000 Purchase 6,000 $4.30
Meijer Corporation has the following information for its inventory for the month of January 2022. Date Price 1/4 Description Quantity Beginning 4,000 Purchase 6,000 $4.30 1/8 $4.40 1/14 Sold 4,000 $11.00 1/18 Purchase 4,200 $4.70 1/25 Sold 17,000 $11.50 1/28 Purchase 3,200 $4.80 Meijer Corporation uses the perpetual inventory system. Determine Ending Inventory for January 2022 using the average cost method (i. e moving average cost.) Round all moving average calculations to the second decimal point. Round Ending Inventory to the nearest dollar. (do not use $ signs, commas or decimals in your final answer) A Determine COGS for January 2022. (Round to the nearest dollar, do not use $ signs, commas or decimals in your final answer) A
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