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The records of Cordova Corp. showed the following transactions, in the order given, relating to the major inventory item: Unit Units Cost 12245 1.
The records of Cordova Corp. showed the following transactions, in the order given, relating to the major inventory item: Unit Units Cost 12245 1. Inventory 3,000 $6.90 Purchase 6,000 7.20 Sale (at $15) 4,000 4. Purchase 5,000 7.50 5. Sale (at $15) 9,000 6. Purchase 11,000 7.66 7. 8. Sale (at $18) Purchase 9,000 6,000 7.80 Required: Complete the following schedule for each independent assumption. (Round unit costs to the nearest cent.): Independent Assumptions a FIFO b. Weighted average, periodic inventory system c. Moving average, perpetual inventory system Units and Amounts Cost of Goods Ending Inventory Sold Gross Margin S 60,780
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