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only the second question . Part 1 Exercise 6-5 Alternative cost flow assum CHECK FIGURES: 3. COGs a. $4,610.00 b. $4,561.00 Car Armour sel and
only the second question
. Part 1 Exercise 6-5 Alternative cost flow assum CHECK FIGURES: 3. COGs a. $4,610.00 b. $4,561.00 Car Armour sel and sales of a particular product in 2017 as follows cel is car wash cleaners. Car Armour uses a perpetual inventory system and made purchases Jan. 1 Beginning inventory 120 units$6.50$780 Jan. 10 Sold70 units $15.001.050 Mar. 7 Purchased 250 units$5.801.450 Mar. 15 Sold125 units $15.001.875 July 28 Purchased500 units $5.602,800 2.475 600 units $15.00 4,000 450 units$5.50 Oct. 5 Sold.m Required: 1. 2. 3. Calculate the total goods available for sale (in units and cost). (19 Marks) Calculate the number of units sold and units remaining in ending inventory (11 marks) Determine the share of the cost of goods available for sale calculated in part 1 that should be assigned to the ending inventory and to goods sold under: a. FIFO (27 Marks) b. Moving Weighted Average (20 Marks) CHECK FIGURES: COGS a. $9,400.00; b. $9,417.90 Urban Glam Cosmetics made purchases of lipstick in the current year as follows 75 units $12.00 400 250 units $13.00 3,250 500 units . S14.00-7000 Mar. 14 Purchased Units available for 825 units Cost of goods available for sale. $11.150 Urban Glam Cosmetics made sales on the following dates at a selling price of $35 per unit Jan. 10 Mar. 15 Oct. 5 70 units 180 units 700 units Required The business uses a perpetual inventory system. Determine the costs that should be assigned to the ending inventory and to goods sold 1. 2. FIFO calculate the gross profit under each Step by Step Solution
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