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Saved Urban Glam Cosmetics made purchases of lipstick in the current year as follows: 11 Jan. 1 Beginning inventory Mar. 14 Purchased July 38 Purchased
Saved Urban Glam Cosmetics made purchases of lipstick in the current year as follows: 11 Jan. 1 Beginning inventory Mar. 14 Purchased July 38 Purchased Units available for sale Cost of goods available for sale 113 units @ $13.00 440 units @ $14.00 690 units $15.00 1,243 units $ 1,469 6,160 10,350 ts $17,979 00:06:49 Urban Glam Cosmetics made sales on the following dates at a selling price of $36 per unit Jan. 10 Mar. 15 Oct. 5 Totals 89 units 370 units 640 units 1,099 units Required: The business uses a perpetual inventory system 1. Determine the costs that should be assigned to the ending inventory and to goods sold under the following m intermediate calculations. Round your final answers to 2 decimal places.) Saved 1. Determine the costs that should be assigned to the ending inventory and to goods sold under the following metho Intermediate calculations. Round your final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a FIFO b. Moving weighted average 2. Also calculate the gross profit under each method. (Do not round intermediate calculations. Round your final answer decimal places.) Gross Profit a FIFO b Moving weighted average
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