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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 totaled 340 units.

Date Units Unit Cost Total Cost
Beginning Inventory January 1 200 $ 80 $ 16,000
Purchase January 15 500 90 45,000
Purchase January 24 300 110 33,000

Number of Goods Available for Sale units
Cost of Goods Available for Sale
Ending Inventory units

Cost of Ending Inventory Cost of Goods Sold
FIFO
LIFO
Weighted Average Cost

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