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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. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units 300 400 300 Unit Cost $90 100 120 Total Cost $ 27,000 40,000 36.000 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, (b) LIFO, and (c) weighted average cost methods. 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 () FIFO, (b) uro, and (c) weighted average cout methods Cost of Ending Inventory Cost of Goods Sold FIFO LIFO Weighted Average Cout
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