Page 3 Required 1. Calculate the ending inventory and the cost of goods sold under a perpetual inventory system by applying each of the three different methods of inventory costing: a. FIFO b. Moving weighted average c. Specific identification 2. Using your calculations from Part 1, record the purchase on January 16 and the sale on January 28 for each of: a. FIFO b. Moving weighted average c. Specific identification Page 409 Analysis Component: A new supplier has approached Graphic Artz Co., offering to supply the merchandise inventory at a cost of $11 per unit. What should the company consider when deciding whether or not to change to the new supplier? Planning the Solution Page 3 Required 1. Calculate the ending inventory and the cost of goods sold under a perpetual inventory system by applying each of the three different methods of inventory costing: a. FIFO b. Moving weighted average c. Specific identification 2. Using your calculations from Part 1, record the purchase on January 16 and the sale on January 28 for each of: a. FIFO b. Moving weighted average c. Specific identification Page 409 Analysis Component: A new supplier has approached Graphic Artz Co., offering to supply the merchandise inventory at a cost of $11 per unit. What should the company consider when deciding whether or not to change to the new supplier? Planning the Solution