Undew Inc.'s inventory records showed the following data for an item it sells regularly. Date Units Unit Cost Jan. 1 Inv

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Undew Inc S Inventory Records Showed The Following Data For An Item It Sells Regularly Date Units Unit Cost Jan 1 Inv 1 (68.47 KiB) Viewed 32 times

Undew Inc.'s inventory records showed the following data for an item it sells regularly. Date Units Unit Cost Jan. 1 Inventory 1,200 $10.00 Jan. 3 Purchases 10,800 $10.40 Jan. 7 Sales (at $26 per unit) 4,200 Jan. 20 Purchases 3,600 $11.00 Jan. 22 Sales (at $27 per unit) 9,600 Jan. 30 Purchases 1,800 $12.00 a. 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. Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Periodic Inventory System Ending Inventory COGS 1. Average cost method. $ $ 2. FIFO method. 3. LIFO method. b. 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. Note: Carry all decimals in calculations; round the final answer to the nearest dollar. COGS $ Perpetual Inventory System Ending Inventory 1. Moving average method. $ 2. FIFO method. 3. LIFO method.