norina 4 Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies

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Norina 4 Aircard Corporation Tracks The Number Of Units Purchased And Sold Throughout Each Accounting Period But Applies 1 (30.43 KiB) Viewed 66 times

norina 4 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 2 points Unit Cost $40 July 1 July 5 July 13 July 17 July 25 July 27 Beginning Inventory Sold Purchased Sold Purchased Sold Units 2,000 1,000 6,000 3,000 8.000 5,000 44 46 Calculate the cost of goods available for sale, ending inventory, and cost of goods sold if Aircard uses (a) FIFO. (O) LIFO, or (c) weighted average cost. (Round "Cost per Unit" to 2 decimal places.) Answer is complete but not entirely correct. Weighted FIFO LIFO Average Cost Cost of Goods Available for Sale $712,000 $712.0005712.000 Ending Inventory 390,000 402,000 396,000 3 Cost of Goods Sold $322,000 3 5 310.000 Ⓡ S 316,000