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Part 1: Information relating to the inventory quantities, purchases and sales of an eight inch (8) speaker unit by the Stereo Company during 2022
Part 1: Information relating to the inventory quantities, purchases and sales of an eight inch (8") speaker unit by the Stereo Company during 2022 is shown below: Number Of Units Cost per Total Unit Cost Inventory, Jan 1 First purchase - May 12th Second purchase - July 9th 25 m 2,700 $30.00 $81,000 3,540 30.60 108.324 2,400 31.05 74,520 Third purchase - Oct 4th od 1,860 32.10 59,706 Fourth purchase - Dec 18th 3,000 32.55 97,650 Goods available for sale 13,500 $421,200 Units sold during the year Inventory, Dec 31st 10.400 3,100 INSTRUCTIONS: Show all final answers in the Answer Grid below a. Compute the cost of the December 31, 202 inventory and the cost of goods sold for the units in 2022 using: 1. Weighted Average 2. LIFO 3. FIFO b. In February of 2023, Stereo Company purchased 1000 units at $31.20 per unit, and then in March of 2023 they sold 2000 units. What is the cost of goods sold for the 2000 units sold in March, 2023 under each of the three methods? There is space on page 3 for your calculations -> -> -> -> Weighted Average 2022 a. Ending Inventory 2022 a. Cost of Goods Sold 2023 - 2nd year og admom xie Tho ased bad M b. Cost of Goods orlovios Soldes smpi own sri The othwodi wodz Jon of abn LIFO sid FIFO
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