Question 11.

PART 1.

PART 2.

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: Jan. 1 Inventory 82 units @ $19 8 Sale 66 units 15 Purchase 91 units @ $23 27 Sale 76 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Jan. 27 and (b) the inventory on Jan. 31. a. Cost of goods sold on Jan. 27 b. Inventory on Jan. 31 Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $10 13 Sale 150 units 22 Purchase 350 units at $13 29 Sale 200 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. C. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places