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UP FINAL EXAM (DECEMBER 22, 2020) - 11.30 AM - 1.00 PM Marlow Body and Bath had a beginning inventory of 110 units at a
UP FINAL EXAM (DECEMBER 22, 2020) - 11.30 AM - 1.00 PM Marlow Body and Bath had a beginning inventory of 110 units at a cost of 18 per unit at April 1, 2020. During the month, the company made the following purchases: April 5 160 units@20 April 11 90 units@21 April 18 April 25 70 units@23 120 units@25 During the month, 400 units were sold at selling price of 35 per unit. Marlow Body and Bath uses a periodic inventory system. REQUIRED: a) Determine the cost of goods available for sale. b) Compute cost of ending inventory and cost of goods sold under: (1) FIFO and (2) Average Cost 7 B I Ff T 80 F3 000 000 F4 3# $ 64 4 % % 85 50 III !!! MacBook Pro [4 Marks] [8 Marks) F5 F6 P F7 66 & 61 7 V
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