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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
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 Beginning Inventory Purchase Purchase January 1 January 15 January 24 Units Unit Cost 120 380 $ 80 Total Cost $ 9,600 90 34,200 200 110 22,000 Required: ces 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. Complete this question by entering your answers in the tabs below. Required 11 Required 2 Required 3 Calculate the number and cost of goods available for sale. Number of Goods Available for Sale 700 units Cost of Goods Available for Sale i $ 65,800
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