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Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing meth at the end of
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing meth 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 totalled 390 units. Beginning Inventory Date January 1 Units Unit Cost Total Cost 195 $11.0 $2,145 Purchase January 15 530 10.5 5,565 Purchase January 24 275 14.0 3,850 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. Ending inventory 610 units
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