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Shown below is activity for one of the products of Weasel: January 1 balance, 220 units at $50 for a total of $11,000 Purchases: January
Shown below is activity for one of the products of Weasel: January 1 balance, 220 units at $50 for a total of $11,000 Purchases: January 10-200 units at $42 January 20-500 units at $55 Sales: January 12-350 units January 28-425 units 1. Compute the ending inventory and cost of goods sold assuming Weasel uses LIFO and a periodic inventory system. 2. Compute the ending inventory and costs of goods sold assuming Weasel uses average cost and periodic inventory system. Please Show all Work
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