PLEASE FOLLOW THE FORMATTING ABOVE
Undew Inc.'s inventory records showed the following data for an item it sells regularly. a. Assuming that Undew maintains a periodic inventory system, compute ending inventory and cost of goods sold for the month ending January 31 using (1) average cost, (2) FIFO, and (3) LIFO. b. Assuming that Undew maintains a perpetual inventory system, compute ending inventory and cost of goods sold for the month ending January 31 using (1) moving average, (2) FIFO, and (3) LIFO. (1) Average cost method (periodic) - Note: Use the result EXACTLY as displayed above in the calculations below. -Note: Do not use negative signs with any of your answers. - Note: Round your final answers to the nearest whole dollar. (2) FIFO Method (periodic) - Note: Do not use negative signs with any of your answers. (3) LIFO Method (periodic) -Note: Do not use negative signs with any of your answers. -Note: Enter the answers for unit cost in dollars and cents, rounded to the nearest penny. Use the rounded amounts for later calculations. -Note: Do not use negative signs with any of your answers. (2) FIFO (perpetual) -Note: Do not use negative signs with any of your answers. -Note: On each date, list the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first. Undew Inc.'s inventory records showed the following data for an item it sells regularly. a. Assuming that Undew maintains a periodic inventory system, compute ending inventory and cost of goods sold for the month ending January 31 using (1) average cost, (2) FIFO, and (3) LIFO. b. Assuming that Undew maintains a perpetual inventory system, compute ending inventory and cost of goods sold for the month ending January 31 using (1) moving average, (2) FIFO, and (3) LIFO. (1) Average cost method (periodic) - Note: Use the result EXACTLY as displayed above in the calculations below. -Note: Do not use negative signs with any of your answers. - Note: Round your final answers to the nearest whole dollar. (2) FIFO Method (periodic) - Note: Do not use negative signs with any of your answers. (3) LIFO Method (periodic) -Note: Do not use negative signs with any of your answers. -Note: Enter the answers for unit cost in dollars and cents, rounded to the nearest penny. Use the rounded amounts for later calculations. -Note: Do not use negative signs with any of your answers. (2) FIFO (perpetual) -Note: Do not use negative signs with any of your answers. -Note: On each date, list the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first
