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Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs...

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Accounting

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Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 120 units at $55 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 142-unit purchase at $62 per unit; the second was a 220-unit purchase at $66 per unit. During the period, it sold 286 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses a. FIFO. Cost of Goods Sold Units Unit Cost Cost of Goods Sold $ = FIFO From beginning inventory From first purchase From second purchase Total Ending Inventory FIFO Units Unit Cost Ending Inventory b. LIFO. Cost of Goods Sold LIFO Units Unit Cost Cost of Goods Sold 0 Total $ 0 Ending Inventory LIFO Units Unit Cost Ending Inventory Total ending inventory 0 c. Weighted average. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Cost of goods sold Ending inventory units units @ @

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