Answer Happy

5 E7-7 (Static) Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] 1.42 points 4 Print Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January, Sales totaled 240 units. Beginning Inventory Purchase Purchase Required: Date January 11 January 15 January 24 Units Unit Cost $80 120 300 90 200 110 1. Calculate the number and cost of goods available for sale.. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the number and cost of goods available for sale. Number of Goods Available for Sale Cost of Goods Available for Sale Total Cost $ 9,600 24,200 22,000 units Required 1 Required 2 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the number of units in ending inventory. Ending Inventory units < Required 1 Required 3 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. FIFO LIFO Weighted Average Cost Cost of Ending Cost of Goods Inventory Sold < Required 2 Required 3 >