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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 Kikis records show the following for the month of January. Sales totalled 240 units.

Date Units Unit Cost Total Cost
Beginning Inventory January 1 120 $ 8 $ 960
Purchase January 15 380 9 3,420
Purchase January 24 200 11 2,200

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 and (b) weighted average cost methods. (Do not round Weighted average cost per unit. Round your final answers to the nearest dollar amount.)

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