Question 12 The following information is available for CSCO.: Cost Retail Merchandise Inventory, BOY $49.500 $90,000 Purchases (NET) $346,500 $630,000 Goods Available For Sale $396,000 $720,000 Sales $686,000 Sales Returns & Allowances $6,000 Using the Retail Method, the estimated ending inventory is: $37,000 $18,700 $22.000 $37.400 Paste BIU Marpe & Center $ % - cel Conditional Format Formatting as Table Styles H31 Ending Inventory FIFO Bal UFO Bal A B D 1 Write-Up Problem #2 for Test 2 (15 points total) 2 A Compute COGS and Ending Inventory balances using the Perpetual Method and each of the following 3 cost flow assumptions (FFO & LIFO): (The 4 bold boxes below will be graded) 4 Perpetual Method: 5 FIFO LIFO Units Unit Price Total Cost 6 1-Jun Beg Inventory 300 $ 10.00 S 3,000 7 4-Jun Purchases 450 $ 12.00 $ 5,400 8 9-Jun Sales 500 9 14-Jun Purchases 250 $ 14.00 $ 3,500 10 15-Jun Purchases 250 $ 15.00 S 3.750 23-Jun Sales 600 12 30-Jun Purchases 225 S 18.00 $ 3,600 $ Ending Inventory LIFO Bal Wtd Ave bal Total Inven avail. For sale 1,475 $ 19,250 15 EOP (End of Period) inventory 375 $ 16 17 COGS (Cost of Goods Sold) 1,100 19 B. Compute COGS and Ending Inventory balances using the Periodic Method and each of the following 20 cost flow assumptions (FIFO, LIFO & Wtd Average): (The 6 bold boxes below will be graded!) 21 Periodic Method 222 FIFO UFO Units Unit Price Total Cost Fobal 23 1-Jun Beg Inventory 300 $ 10.00 $ 3,000 24 4-Jun Purchases 450 $ 12.00 $ 5,400 26 14-Jun Purchases 250 $ 14.00 $ 3,500 27 15-Jun Purchases 250 $ 15.00 $ 3,750 29 30-Jun Purchases 225$ 16.00 $ 3,600 30 31 Total Inven avait For sale 1,475 S 19,250 32 EOP (End of Period) inventory 375 $ 33 34 COGS (Cost of Goods Sold) 1,100 35 Inventory WS