Problem #3 1) Aloha Co. uses the perpetual inventory system. There were 21 units of the item on hand at the end of the m

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Problem 3 1 Aloha Co Uses The Perpetual Inventory System There Were 21 Units Of The Item On Hand At The End Of The M 1 (30.54 KiB) Viewed 71 times

Problem #3 1) Aloha Co. uses the perpetual inventory system. There were 21 units of the item on hand at the end of the month. The following units of an item were available for sale during the month: Jan 1 Beg. Inventory $20 / unit 4,000 units at 2,500 units Jan 5 Sale Jan 12 Purchase 6,000 units at $24 / unit Jan 18 Sale 4,500 units Jan 25 Purchase 3,000 units at $25 / unit a) What is the cost of the ending Inventory on the Balance Sheet and the Cost of Merchandise Sold on the Income Statement if the company is using the FIFO Inventory System? Merchandise Inventory = CMS= b) What is the cost of the ending inventory on the Balance Sheet and the Cost of Merchandise Sold on the Income Statement if the company is using the LIFO Inventory System? Merchandise Inventory CMS= c) What is the cost of the ending inventory on the Balance Sheet and the Cost of Merchandise Sold on the Income Statement if the company is using the Weighted-Average Inventory System? Merchandise Inventory CMS=