Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but...
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Accounting
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.
Units
Unit Cost
July 1
Beginning Inventory
2,000
$
35
July 5
Sold
1,000
July 13
Purchased
6,000
37
July 17
Sold
3,000
July 25
Purchased
8,000
39
July 27
Sold
5,000
Calculate the cost of goods available for sale, ending inventory, and cost of goods sold if Aircard uses (a) FIFO, (b) LIFO, or (c) weighted average cost.(Round "Cost per Unit" to 2 decimal places.)
Weighted Average Cost FIFO LIFO $ 604,000 $ 604,000$ Cost of Goods Available for Sale 604,000 Ending Inventory Cost of Goods Sold
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