Required Information [The following information applies to the questions displayed below.] In its first month...
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Required Information [The following information applies to the questions displayed below.] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 260 units at $9 on January 1, (2) 520 units at $10 on January 8, and (3) 820 units at $11 on January 29. Assume 1,000 units are on hand at the end of the month, calculate the cost of goods available for sale, ending Inventory, and cost of goods sold under FIFO. Assume a periodic Inventory system is used. (Round "Cost per Unit" to 2 decimal places.) FIFO Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Required Information [The following information applies to the questions displayed below.] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 260 units at $9 on January 1, (2) 520 units at $10 on January 8, and (3) 820 units at $11 on January 29. Assume 1,000 units are on hand at the end of the month, calculate the cost of goods available for sale, ending Inventory, and cost of goods sold under the LIFO. Assume a periodic Inventory system is used. (Round "Cost per Unlt" to 2 decimal places.) LIFO Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Required Information [The following Information applies to the questions displayed below.] In Its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise In the following order: (1) 260 units at $9 on January 1, (2) 520 units at $10 on January 8, and (3) 820 units at $11 on January 29. Assume 1,000 units are on hand at the end of the month, calculate the cost of goods available for sale, ending Inventory, and cost of goods sold under the weighted average cost flow assumptions. Assume a periodic Inventory system is used. (Round "Cost per Unlt" to 2 decimal places.) Weighted Average Cost Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold
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