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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 total 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 Purchased in October Number of units 900 Cost per unit $ 10 1 nces b-1. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. (Enter all values as a positive value.) Periodic FIFO Cost of Goods Available for Sale FO Cost of Goods units Available for Sale 5 Cost per Cost of Goods Sold # of units Cost of sold Goods Sold Cost per Inventory Balance N of units in ending Cost per Ending unit inventory Inventory Beg Inventory b-1. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method (Enter all values as a positive value.) Periodic. FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Hof units Available for unit Sale $ 0 Cost per Cost per # of units sold Cost of Goods Sold Inventory Balance of units Cost per Ending in ending Inventory inventory unit Beg. Inventory Purchases May October Total 0 0 $ 0 0 of $ 0 $ 0 b-2. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. (Enter all values as a positive value.) Periodic TIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Available for units unit Sale # of Cost per Cost per # of units sold Inventory Balance # of units in ending Ending unit inventory Inventory Cost per Cost of Goods Sold unit $ 0 Beg. Inventory Purchases May October Total 0 0 0 0 $ 0 $ 0 0 $ 0
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