The Baby Store had a beginning inventory on January 1 of290full-size strollers at a cost of $210per unit. During the year, the following purchases were made:

Units Unit Cost

Mar. 15 78 $211

July 20 60 $210

Sept. 4 25 $208

Dec. 2 10 $203

At the end of the year, there were35units on hand. The Baby Store uses a periodic inventory system.

1.Determine the cost of goods available for sale.

2.During the year, The Baby Store sold the strollers for $290per unit. Calculate the number of units sold during the year and total sales revenue.

Number of units sold(units)

Sales revenue

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

Cost of goods sold$

Ending inventory

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