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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 310 units Date Units Unit Cost Total Cost Beginning Inventory Purchase Purchase 240 January January 15 360 January 24 200 80 90 110 $19,200 32,400 22,000 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 Required3 Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFo, and (c) weighted average cost methods Cost of Ending Cost of Goods Sold Invento FIFO LIFO Weighted Average Cost Required 2 Required 3
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