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UPDATED: ONE QUESTION MML uses a perpetual inventory system and had the following inventory transactions durig the month of October: Units Unit Cost 18.00 20.00
UPDATED: ONE QUESTION
MML uses a perpetual inventory system and had the following inventory transactions durig the month of October: Units Unit Cost 18.00 20.00 Total Cost 36,000 60,000 Oct.1 Oct.3 Oct.7 Oct.15 Oct.23 Oct.29 Oct.31 Beg. Inventory Purchased Sold Sold Purchased Sold Purchased 2,000 3,000 2,600 1,900 3,000 3,300 1,800 22.00 66,000 20.50 36,900 a) Determine MML's cost of goods available for sale b) Calculate the COGS and ending inventory as at Oct.31 using the following cost formulas: i) FIFO ii) weighted average
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