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Wayne Enterprises uses a perpetual inventory system. For 2021 they have the following data: Activity Units Purchase Price (per unit) Sale Price (per unit)
Wayne Enterprises uses a perpetual inventory system. For 2021 they have the following data: Activity Units Purchase Price (per unit) Sale Price (per unit) 2021 Beginning inventory 200 $9 Purchase 1, Feb. 15 300 11 Sale 1, Mar. 10 320 $25 Purchase 2, Sept. 15 500 12 Sale 2, Nov. 3 Purchase 3, Dec. 20 550 150 25 13 DO NOT ROUND INTERIM CALCULATIONS, PLEASE ROUND FINAL VALUES TO THE NEAREST WHOLE DOLLAR AMOUNT. THANK YOU! Required: Assuming Wayne Enterprises uses a perpetual inventory system; Round final dollar value 1. Compute cost of goods sold and the cost of ending inventory, using FIFO. 2021 Cost of Goods Sold FIFO $ Cost of ending inventory $ 2. Compute cost of goods sold and the cost of ending inventory, using the weighted average (W/A) method. 2021 Cost of Goods Sold W/A $ Cost of ending inventory $
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