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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning Inventory Mar. 14 Purchased July 30 Purchased Units
Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning Inventory Mar. 14 Purchased July 30 Purchased Units available for sale Cost of goods available for sale 79 units $14.00 270 units @ $15.00 520 units $ 1, 106 1 $16.00 4,050 8,320 $13,470 869 units Urban Glam Cosmetics made sales on the following dates at a selling price of $34 per unit Jan. 10 72 units Mar. 15 200 onits Oct. Totals 5470 unit 742 units Required: The business uses a perpetual inventory system 1. Determine the costs that should be assigned to the ending inventory and to goods sold under the following methods (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Cost of Goods
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