The Baby Store had a beginning inventory on January 1 of 320 full-size strollers at a cost of $180 per unit. During the year, the following purchases were made:

		Units		Unit Cost
Mar. 15		78		$181
July 20		62		180
Sept. 4		25		178
Dec. 2		10		173

At the end of the year, there were 35 units on hand. The Baby Store uses a periodic inventory system.

Find the:

a. Cost of goods available for sale

b.

During the year, The Baby Store sold the strollers for $300 per unit. Calculate the number of units sold during the year and total sales revenue.

Number of units sold			units
Sales revenue

c.

Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted average.

FIFO		Weighted average
		$
		$

d. Calculate gross profit using (1) FIFO and (2) weighted average

FIFO. Weighted average Gross profit $ $