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please help me fix the red Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costir
please help me fix the red
Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costir method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the accounting period, January 31. The inventory's selling price is $9 per unit. Unit Cot $ 2.50 Transactions Inventory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 Units Total Cont 200 $ 500 (140) 250 750 (90) 50 200 3.00 4.00 Required: 1. Compute the amount of goods available for sale, ending Inventory, and cost of goods sold at January 31 under each of the follow Inventory costing methods: a. Weighted average cost. b. First-in, first-out c. Last-in, first-out d. Specific identification, assuming that the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase. amount.) Ending Inventory Cost of Goods Sold a. Weighted average cost b. First-in, first-out c. Last-in, first-out: d. Specific identification Amount of Goods Available for Sale $ 1,450 $ $ 1.450 $ $ 1,450 $ 1,450 667 620 1,403 X $ 1,450 X $ 1,257 X $ 1,420 $ 770 $ $ X X $ 650 Step by Step Solution
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