Speed World Cycles sells high-performance motorcycles and motocross racers. One of Speed Worlds most popular models is the Kazomma 900 dirt bike. During the current year, Speed World Cycles purchased eight of these bikes at the following costs.

Speed World Cycles sells high-performance motorcycles and motocross racers. One of Speed World's most popular models is the Kazomma 900 dirt bike. During the current year, Speed World Cycles purchased eight of these bikes at the following costs. Purchase Date July 1 July 22 Aug. 3 Units Purchased 2 3 3 Unit Cost $ 4,950 5,000 5,100 Total Cost $ 9,900 15,000 15,300 $ 40,200 8 On July 28, Speed World Cycles sold four Kazomma 900 dirt bikes to the Vince Wilson racing team. The remaining four bikes remained in inventory at September 30, the end of Speed World's fiscal year. Assume that Speed World Cycles uses a periodic inventory system. Req A1 Req A2 Req A3 Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using Last-in, first-out (LIFO) method. Ending inventory at September 30: Ending inventory $ 0 Cost of goods sold through September 30: Cost of goods available for sale Cost of goods sold $ 0 Required: a. Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using the following cost flow assumptions. 1. Average cost. 2. FIFO. 3. LIFO. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req A3 Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using Average-cost method. Ending inventory at September 30: Average cost Ending inventory Cost of goods sold through September 30: Cost of goods available for sale Cost of goods sold $ 0 Reg A1 Req A2 >