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Part C (10 marks) Wayne Enterprises uses a perpetual inventory system. For 2021 they have the following data: Units Purchase Price (per unit) Sale
Part C (10 marks) Wayne Enterprises uses a perpetual inventory system. For 2021 they have the following data: Units Purchase Price (per unit) Sale Price (per unit) Activity 2021 Beginning inventory 200 $9 Purchase 1, Feb. 15 300 11 Sale 1, Mar. 10 320 525 Purchase 2, Sept. 15 500 12 Sale 2, Nov. 31 550 25 Purchase 3, Dec. 20 150 13 DO NOT ROUND INTERIM CALCULATIONS, PLEASE ROUND FINAL VALUES TO THE NEAREST WHOLE DOLLAR AMOUNT. THANK YOU! Required: Assuming Wayne Enterprises uses a perpetual inventory system; Round final dollar value 1. Compute cost of goods sold and the cost of ending inventory, using FIFO. 2021 Cost of Goods Sold FIFO $ Cost of ending inventory S 2. Compute cost of goods sold and the cost of ending inventory, using the weighted average (WIA) method. 2021 Cost of Goods Sold W/A S. Cost of ending inventory 5.
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