Requirement 2

Suppose Kim Swan, the specially retailer, had these records for ladies' evening gowns during 2017 E (Click icon to vlew records.) Assume sale of evening gowns totalled 131 units during 2017 and that Kiri's uses the weight-average-cost method under the periodic inventory system to account for inventory. The income tax rate is 34%. Requirements 1. Compute Kim's cost of goods sold for evening gowns in 2017. 2. Compute what cost of goods sold would have been if Kim had purchased enough inventory in Decemberat $1,150 per evening gownto keep year-end Inventory at the same level it was at the beginning of the year, 27 units. Requirement 1. Compute Kim's cost of goods sold for evening gowns in 2017. (Round all interim calculations to the nearest whole dollar. Round your answer to the nearest whole dollar.) The cost of goods sold is $122223 Requirement 2. Compute what cost of goods sold would have been if Kim had purchased enough inventory in Decemberat $1,150 per evening gownto keep year-end inventory at the same level it was at the beginning of the year, 27 units The cost of goods with the new units would be s 125105 - i Accounting records $ Beginning inventory (27 @ $ 700)................ Purchase in February (30 @ S 850)............. Purchase in June (64 $1,000) .............. Purchase in December (21 @ $1,150) ........... 18,900 25,500 64,000 24,150 Goods available............................. S 132,550 Print Done Enter your answer in each of the answer boxes