Question
(PLEASE DO ALL PROBLEMS AND SHOW WORK! THANKS! Pina Colada Corp. Inc. had a beginning inventory of 100 units of Product RST at a cost
(PLEASE DO ALL PROBLEMS AND SHOW WORK! THANKS! Pina Colada Corp. Inc. had a beginning inventory of 100 units of Product RST at a cost of $ 9 per unit. During the year, purchases were: Feb. 20 575 units at $ 10 Aug. 12 410 units at $ 12 May 5 505 units at $11 Dec. 8 100 units at $ 13 Pina Colada Corp. uses a periodic inventory system. Sales totaled 1,460 units. Determine the cost of goods available for sale. The cost of goods available for sale $ TA e Textbook and Media Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 2.237.) Average cost per unit $ $ Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to decimal places, e.g. 5,125.) FIFO LIFO AVERAGE-COST UA $ $ $ $ The ending inventory The cost of goods sold $ $ $ $ $ e Textbook and Media Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? (1) results in the lowest inventory amount, $ (2) results in the lowest cost of goods sold, $
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