Q1:

Duncan Industries' inventory of coats (Model XL) during 2021 is given below. The company uses a periodic inventory system. # Units Unit Cost Beginning Inventory, January 1, 2021 57 $ 79 Purchases: January 18 35 82 March 31 85 October 20 45 79 November 11 25 Ending Inventory, December 31, 2021 1. Use the table to calculate Cost of Goods Available for Sale and Ending Inventory assuming the company utilizes the FIFO method. Merchandise available for sale Ending Inventory FIFO Number of Unit cost Total cost Number of Unit cost Total cost units units Beginning inventory Purchases: January 18 March 31 October 20 November 11 Total 62January 18 35 82 March 31 40 85 October 20 45 79 November 11 25 74 Ending Inventory, December 31, 2021 62 1. Use the table to calculate Cost of Goods Available for Sale and Ending Inventory assuming the company utilizes the FIFO method. Merchandise available for sale Ending Inventory FIFO Number of Unit cost Total cost Number of Unit cost Total cost units units Beginning inventory Purchases January 18 March 31 October 20 November 11 Total 62 2. What is the cost of the ending inventory and the cost of goods sold ? Ending inventory Cost of goods soldDuncan Industries' inventory of coats (Model XL) during 2021 is given below. The company uses a periodic inventory system. # Units Unit Cost Beginning Inventory, January 1, 2921 57 $ 79 Purchases: January 18 35 82 March 31 48 85 October 20 45 79 November 11 25 74 Ending Inventory, December 31, 2021 62 1. Use the table to calculate Cost of Goods Available for Sale and Ending Inventory assuming the company utilizes the LIFO method. Merchandise available for sale Ending Inventory LIFO Number of units Unit cost Total cost Number of units Unit cost Total cost Beginning inventory Purchases January 18 March 31 October 20 TotalNovember 11 25 74 Ending Inventory, December 31, 2021 62 1. Use the table to calculate Cost of Goods Available for Sale and Ending Inventory assuming the company utilizes the LIFO method. Merchandise available for sale Ending Inventory LIFO Number of units Unit cost Total cost Number of units Unit cost Total cost Beginning inventory Purchases January 18 March 31 October 20 Total 2. What is the cost of the ending inventory and the cost of goods sold ? Ending inventory Cost of goods soldDuncan Industries' inventory of coats (Model XL) during 2021 is given below. The company uses a periodic inventory system. # Units Unit Cost Beginning Inventory, January 1, 2021 57 $ 79 Purchases: January 18 35 8:2 March 31 40 85 October 20 45 79 November 11 25 74 Ending Inventory, December 31, 2021 62 1. Use the table to calculate Cost of Goods Available for Sale and Ending Inventory assuming the company utilizes the average cost method. (Round your average cost to 2 decimal places.) A B C D E F G Merchandise Available for Sale Ending Inventory Average Cost Number of Units Unit Cost Total Cost Number of Average Cost Total Cost Units Per Unit 3 Beginning inventory 4 Purchases: 5 January 18 March 31 October 20 November 11 Total1. Use the table to calculate Cost of Goods Available for Sale and Ending Inventory assuming the company utilizes the average cost method. (Round your average cost to 2 decimal places.) A B C D E F G Merchandise Available for Sale Ending Inventory Average Cost Number of Average Cost Units Unit Cost Total Cost Number of Per Unit Total Cost Units 3 Beginning inventory 4 Purchases S January 18 6 March 31 October 20 November 11 Total 2. What is the cost of the ending inventory and the cost of goods sold ? Ending inventory Cost of goods soldTyler Sporting Equipment uses the periodic inventory system and had the following inventory figures for its Cameron Glove Model during 20X1 as shown below. # Units Unit Cost Beginning Inventory, January 1, 20X1 $ 17 Purchases: January 18 28 18 March 3 33 18 June 30 3.8 16 October 18 44 17 Ending Inventory, December 31, 20x1 15 1. What is the cost of the ending inventory and the cost of goods sold? Assume the company utilizes the FIFO method. 2. What is the cost of the ending inventory and the cost of goods sold? Assume the company utilizes the LIFO method. 3. What is the cost of the ending inventory and the cost of goods sold? Assume the company utilizes the average cost method. [Do not round your intermediate calculations. Round your answers to 2 decimal place.) FIFO LIFO Average cost Ending inventory Cost of goods sold