Seminole Company began the year with 28,000 units of product in its January 1 inventory costing $16.60 each. It made purchases of its product during the year as follows. The company uses a periodic inventory system. On December 31, a physical count reveals that 51,000 units of its product remain in inventory.

Mar.	7	44,000 units @ $19.60 each
May	25	46,000 units @ $23.60 each
Aug.	1	36,000 units @ $25.60 each
Nov.	10	41,000 units @ $28.60 each

Required: 1. Compute the number and total cost of the units available for sale during the year. 2. Compute the amounts assigned to ending inventory and the cost of goods sold using (a) FIFO, (b) LIFO, and (c) weighted average.

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2

Compute the number and total cost of the units available for sale during the year.

Total units available for sale		units
Total cost of units available for sale

Compute the amounts assigned to ending inventory and the cost of goods sold using (a) FIFO, (b) LIFO, and (c) weighted average. (Do not round intermediate calculations. Round the final answers to nearest whole dollars.)

	(a) FIFO Periodic	(b) LIFO Periodic	(c) Weighted Average Periodic
Total cost of units available for sale
Less ending inventory
Cost of units sold