Transcribed Image Text
In: AccountingBelow is the record of inventory purchases and sales of themonth of August 2019 for...Below is the record of inventory purchases and sales of themonth of August 2019 for Company A. Company A uses the perpetualinventory system.DateUnitsUnit Cost/Selling Price per UnitAug 01Beginning Inventory14043Aug 05Purchase11545Aug 09Sales12085Aug 12Sales6090Aug 16Purchase15052Aug 25Sales8580Aug 30Sales8095Required:Company A's Income Statement for August 2019 indicates that costof goods sold for the month is $16,415. Does Company A use LIFO,FIFO, Weighted-Average Cost, or Specific Identification?Calculate the ending inventory for August 2019 for CompanyA.If Company A uses the Weighted Average Inventory Costassumption, what is the total cost of goods sold for the month ofAugust 2019? (Round your average cost calculations to four decimalplaces and all other amounts to two decimal places)