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The beginning inventory was 900 units at a cost of $10 per unit. Goods available for sale during the year were 3,900 units at a
The beginning inventory was 900 units at a cost of $10 per unit. Goods available for sale during the year were 3,900 units at a tota cost of $43,200. In May, 1,800 units were purchased at a total cost of $19,800. The only other purchase transaction occurred during October. Ending inventory was 1,650 units. Required: a. Calculate the number of units purchased in October and the cost per unit purchased in October. b. 1. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. 2. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. Complete this question by entering your answers in the tabs below. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. Note: Enter all values as a positive value. The beginning inventory was 900 units at a cost of $10 per unit. Goods available for sale during the year were 3,900 units at a tota :ost of $43,200. In May, 1,800 units were purchased at a total cost of $19,800. The only other purchase transaction occurred during ctober. Ending inventory was 1,650 units. Pequired: 1. Calculate the number of units purchased in October and the cost per unit purchased in October. 1. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. 2. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. Complete this question by entering your answers in the tabs below. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. Note: Enter all values as a positive value
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