Whats the answers to all the questions. Cost Allocation and Lower$-$of$-$Cost$-$or$-$Market

Douglas Company's beginning inventory and purchases during the fiscal year ended December $31,20-,$ were as shown.

$\backslash$table$[[,,$Units,Unit Price,,otal Cost$],[$January $1,20-,$Beginning inventory,$1,100$$$,8\mathrm{.}00,$$$,8,800],[$March $5,1$st purchase,$900,9\mathrm{.}00,,8,100],[$April $16,2$nd purchase,$400,9\mathrm{.}50,,3\mathrm{.}800],[$June $3,3$rd purchase,$700,10\mathrm{.}25,,7,175],[$August $18,4$th purchase,$600,11\mathrm{.}00,,6,600],[$September $13,5$th purchase,$800,12\mathrm{.}00,,9,600],[$November $14,6$th purchase,$400,14\mathrm{.}00,,5,600],[$December $3,$Th purchase,$500,14\mathrm{.}05,,7,025],[,,5,400,,$$$,56,700]]$

There are $1,000$ units of inventory on hand on December $31.$

Required:

Calculate the total amount to be assigned to the ending inventory and cost of goods sold on December $31$ under each of the following methods:

Cost of Coods Sold

Cost of Ending

Inventory

Inventory

$13,825V$

$5$

a$.$ FIFO

b$.$ UTFO

c$.$ Weighted$-$average $($round calculations to two decimal places$)$

Assume that the market price per unit $($cost to replace$)$ of Douglas's inventory on December $31$ was $$13.$ Calculate the total amount to be assig

a$.$ FIFO lower$-$of$-$cost$-$or$-$market

b$.$ Weighted$-$averege lower$-$of$-$cost$-$or$-$markes

Prepare required entries to apply:

a$.$ FIFO lower$-$of$-$cost$-$or$-$market

b$.$ Weighted$-$average lower$-$of$-$cost$-$or$-$market

If no entry is required, select $"$No Entry Required"