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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
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 330 units Units Unit Cost 180 $ 75 Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 420 85 Total Cost $13,500 35,700 33,600 320 105 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, (b) LIFO, and (c) weighted average cost methods. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted methods. FIFO S Cost of Ending Inventory 41,250 48,350 29,700 S Cost of Goods Sold 41,550 34,450 53,100 S S LIFO Weighted Average Cost S
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