Samson Goods, Inc. records the following transactions for its spring part# SP76G for the month of October. October 23^rd Samson sold 925 units.

1. Complete the following table. (8 points) Total

October 1^st Beginning Inventory Units 500 at $1.00 = October 2^nd Purchases Units 400 at $1.25 = October 11^th Purchases Units 775 at $1.50 = October 28^th Purchases Units 880 at $2.25 = Total $ Sold Inventory on hand

2. Use the above information to calculate inventory using two different methods:

(a) Prepare Ending inventory under Period Inventory using FIFO Method. (3 points)

(b) Prepare Cost of Goods Sold. (3 points)

Cost of goods available for sale $

Deduct: Ending Inventory FIFO

Cost of Goods Sold (COGS) $

(c) Prepare Perpetual Inventory using LIFO Method. (10 points)

Date Purchases (Units @$) COGS (Units @ $) Inventory on Hand 10-1 Inventory (500 @ $1.00) = $500 500 @ $1.00 = $ 500

10-2

10-11

10-23

10-28

HELP ASAP PLEASE!!!

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