P6-11A

Apply periodic FIFO and weighted average (107) AP P6-11A The Baby Store bada beminning inventorn lanuary 1 of 200 full-size strollers at a cost of $110) - unit. During the vear, the following purchases were made: Units Unit Cost Mar. 15 80 $111 July 20 60 110 Sept. 4 108 Dec. 2 103 25 10 At the end of the year, there were 35 units on hand. The Baby Store uses a periodic inventory system Instructions (a) Determine the cost of goods available for sale. (b) During the year, The Baby Store sold the strollers for $290 per unit. Calculate the number of units sold durine the year and total sales revenue. (c) Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted aver- age. (Round the weighted average cost per unit to two decimal places.) (d) Calculate gross profit using (1) FIFO and (2) weighted average