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What is average weight cost for the last 2? Check Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but
What is average weight cost for the last 2?
Check Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic Inventory system. The following are the transactions for the month of July Unit Cost $ 45 July 1 July 5 July 13 July 17 July 25 July 27 Beginning Inventory Sold Purchased Sold Purchased Sold Unita 2,000 1,000 6,000 3,000 8,000 5,000 47 49 Calculate the cost of goods available for sale, ending inventory, and cost of goods sold if Aircard uses (a) FIFO (6) LIFO, or (c) weighted average cost. (Round "Cost per Unit" to 2 decimal places.) FIFO $ Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold 764,000 $ 343,000 421,000 $ LIFO Welghted Average Cost 764,000 $ 764,000 423,000 341,000 $ O ORCI N atv A @ 18 Step by Step Solution
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