VOCo uses FIFO costing and the perpetual method. It shows the following data for 2008 and 2009 1. Units Purchased 1,800 1,100 Units Sold Date 12/2/08 12/4/08 12/10/08 Unit Cost $6 S8 Sale Price: $11 Purchase Purchase Sale Beg. Inventory 1/1/09 Sale Purchase Purchase Sale 1,500 1,400 1/13/09 2/14/09 3/30/09 7/31/09 1,000 3,600 2,800 S9 $13 Sales Price: $ 15 2,900 (a) What is the ending inventory on December 31, 2009? (b) What is the 2009 cost of goods sold? (c) Prepare the journal entries for the 2008 transactions. Assume purchases were paid in cash SUCO uses weighted average (moving average) costing and starts 2009 with 5,000 units of merchandise in beginning inventory at $13 per unit cost. Purchases and sales during 2009 are as follows: 2. Purchases 1,500 @$16 Sales February 14 May 22 September 2 November 15 December 9 2,200 @ $30 1,000 @ $17 1,200 @ $18 3,300 @ $40 You may find it beneficial to make a chart to show your calculations for each transaction (a) If SUCO uses the perpetual method, how much will ending inventory be on its December 31, 2008 balance sheet? (b) How much will COGS be on its 2009 income statement? 3. VIBO uses weighted average costing and gives you the following data: 12/31/08 1/4/09 1/4/09 6/23/09 12/24/09 12/27/09 Ending inventory of 400 units Purchase of 500 units@ $19 Freight for purchase Sale of 300 units @ $30 Purchase of 700 units @ $20 Return of 100 units @ $20 $6,800 9,500 300 9,000 14,000 2,000 On December 31, 2009 VIB0 has 1,200 units on hand. How much is COGS on its 2009 income statement under the periodic method