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The Star Inc. company has the following purchases and sales during the year ended December 31, 2014 Inventory and Purchases Sales Beginning: 300 units @
The Star Inc. company has the following purchases and sales during the year ended December 31, 2014 Inventory and Purchases Sales Beginning: 300 units @ $67/unit April 28 200 units February 8 200 units @ $62/unit October 28: 300 units May 3 100 units @ $66/unit The units have a selling price of $90.00 per unit a) Given that Star Inc. employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory Cost of goods available for sale Units available for sale Units remaining in ending inventory b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit eamed by Star Inc. using the following systems: FIFO and Weighted Average Calculate weighted average cost per unit of merchandise inventory to the nearest cent FIFO Weighted Average Cost of Goods Sold Ending Inventory Gross Profit
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