Page 1 of 4 Question 1 (10 points) Question [10 marks; suggested time 15 minutes) At December 31, 2019, California Company (CC) had 100 units of a particular product which it had purchased at $5.00 each. CC made purchases of this particular product in 2020 as follows: June 5 200 units at $6.00 $1,200 Nov. 11 700 units at $7.00 $4,900 TOTAL 900 units $6,100 CC made sales on the following dates at a selling price of $12 per unit: January 31 50 units June 30 75 units November 30 675 units TOTAL 800 units Required: CC uses a periodic inventory system. Determine cost of goods sold and ending inventory under: SHOW YOUR WORK Specific identification assuming 100 of the units from June 5 are on hand (st there) and the remainder of the units on hand are from November 11 (3 marka) Required: CC uses a periodic inventory system. Determine cost of goods sold and ending inventory under: SHOW YOUR WORK a. Specific identification assuming 100 of the units from June 5 are on hand (still there) and the remainder of the units on hand are from November 11. (3 marks) b. Weighted average (4 marks) c. Now assume that CC uses the perpetual inventory system. For the weighted average method, calculate the cost of the goods sold for the June 30 sale ONLY (3 marks) Required: CC uses a periodic inventory system. Determine (total) cost of goods sold and ending inventory under: SHOW YOUR WORK . Specific identification assuming all of the units from the Juno 5 are on hand (still there) and the remainder of the units on hand are from November 11. (3 marks) b. Weighted average (4 marks) c. Now assume that CC uses the perpetual inventory system. For the weighted average method, calculate the cost of the goods sold for the June 30 sale ONLY