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The records of Cordova Corp. showed the following transactions, in the order given, relating to the major inventory item: Units Unit Cost 1. Inventory 5,200
The records of Cordova Corp. showed the following transactions, in the order given, relating to the major inventory item: Units Unit Cost 1. Inventory 5,200 $ 7.40 2. Purchase 10,400 7.70 3. Sale (at $16.00) 7,300 4. Purchase 9,400 8.00 5. Sale (at $16.00) 15,600 6. Purchase 17,500 8.16 7. Sale (at $19.00) 15,600 8. Purchase 10,400 8.30 Required: Complete the following schedule for each independent assumption. (Round unit costs to the nearest cent.) Units and Amounts Cost of Goods Sold Ending Inventory Gross Margin Independent Assumptions FIFO D. Weighted average periodic inventory system Moving average perpetual inventory system
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