need help please

E7-7 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Welghted Average Cost LO 7-3 Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 240 units. Date Units Unit Cost Total Cost Beginning Inventory January 1 120 $ 80 $ 9,600 Purchase January 15 380 90 34,200 Purchase January 24 200 110 22.000 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (6) LIFO, and (c) weighted average cost methods. Page 333 On 7-7 First, note that there are 240 units sold Second, determine available for sale in dollars, which is the same for all three methods Third, determine ending inventory for each method. You will need to determine the ending inventory in units: 120 to start, two purchases pf 380 and 200, sales of 240, so back into units left. For weighted average, you will have to determine the per unit cost Fourth, CGS for each method will equal Available for sale - Ending inventory You can set it up like this: . . FIFO F Weighted Do this In Dollars only LIFO Average Beginning Inventory Purchases Available for Sale Ending Inventory Cost of Goods Sold Beginning inventory will be 120 units at $80 for each method. Only dollars in this table Purchases will be the sum (dollars only) of the dollars spent on the two purchases. Only dollars here. Available for sale will be the same for all three methods Ending inventory will be different for all three methods For weighted average, you need cost per unit = (available for sale in dollars) / (# units available for sale)