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Periodic and Perpetual Systems-Calculating Ending Inventory and Cost of Sales Using Average Cost (Moving Average), FIFO, and LIFO

Undew Inc.'s inventory records showed the following data for an item it sells regularly.

Date		Units Unit Cost
Jan. 1 Inventory (beg.)	2,400	$10.00
Jan. 3 Purchases	21,600	$10.40
Jan. 7 Sales (at $26 per unit)	8,400
Jan. 20 Purchases	7,200	$11.00
Jan. 22 Sales (at $27 per unit). 19,200
Jan. 30 Purchases	3,600	$12.00

1. Assuming that Undew maintains a periodic inventory system, compute ending inventory and cost of goods sold for the month ending January 31 using (1) average cost, (2) FIFO, and (3) LIFO.
2. Assuming that Undew maintains a perpetual inventory system, compute ending inventory and cost of goods sold for the month ending January 31 using (1) moving average, (2) FIFO, and (3) LIFO.

Periodic and Perpetual Systems-Calculating Ending Imventory and Cost of Sales Using Average Cost (Moving Average), FiFo, and LFo Undew inc's inventory records showed the following data for an item it selts regularly. (1) Average cost method (periodic) *Nete tise the result Dactiy as daplayed above in the calculations beliow. *Note: Do not use negabve signs with any of your answers. - Notes Round your final answers to the neares whole dolar