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2. (30 points) X-Ray Company maintains a large and varied inventory of merchandise for resale. They use a periodic inventory system for all items. The
2. (30 points) X-Ray Company maintains a large and varied inventory of merchandise for resale. They use a periodic inventory system for all items. The following information is for their StarCatcher item: June 1 beginning inventory $22/unit 1,750 units 1,200 units June 5 purchase $25/unit June 20 purchase 800 units $26/unit June 30 purchase 300 units $28/unit The data above is entered in tab "P 2" of the spreadsheet. Required: a. Calculate the Cost of Goods Available for Sale for April. b. Calculate the Cost of Goods Sold for April using FIFO. 2,100 units were sold. c. Calculate the Cost of Goods Sold for April using LIFO. 2,100 units were sold. 1 2 Date Account Name 3 4 5 6 7 8 9 10 11 12 13 14 15 General Journal Debit Credit
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