Problem 6-7AA (Algo) Periodic: Alternative cost flows LO P3 Seminole Company began the year with 22,500 units of product in its January 1 inventory costing $15.50 each. It made four purchases of its product during the year as follows. The company uses a periodic inventory system. On December 31, a physical count reveals that 40,000 units of its product remain in inventory. March 7. May 25 August 1 November 10 33,000 units @ $18.50 each 35,000 units @ $22.50 each 25,000 units @ $24.50 each 35,500 units @ $27.50 each Required: 1. Compute the number and total cost of the units available for sale during the year. 2. Compute the amounts assigned to ending inventory and the cost of goods sold using (a) FIFO, (b) LIFO, and (c) weighted average. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number and total cost of the units available for sale during the year. Total units available for sale units Total cost of units available for sale EU Required 2 > Problem 6-7AA (Algo) Periodic: Alternative cost flows LO P3 Seminole Company began the year with 22,500 units of product in its January 1 inventory costing $15.50 each. It made four purchases of its product during the year as follows. The company uses a periodic inventory system. On December 31, a physical count reveals that 40,000 units of its product remain in inventory. March 7 May 25 August 1 November 10 33,000 units @ $18.50 each 35,000 units @ $22.50 each 25,000 units @ $24.50 each 35,500 units @ $27.50 each Required: 1. Compute the number and total cost of the units available for sale during the year. 2. Compute the amounts assigned to ending inventory and the cost of goods sold using (a) FIFO, (b) LIFO, and (c) weighted average. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amounts assigned to ending inventory and the cost of goods sold using (a) FIFO, (6) LIFO, and (c) weighted average. (Do not round intermediate calculations. Round the final answers to nearest whole dollars.) (a) FIFO Periodic (b) LIFO Periodic (c) Weighted Average Periodic Total cost of units available for sale Less ending inventory Cost of goods sold