Required:
a Compute the amount of goods available for sale.
b & c Compute the amount of ending inventory and cost of goods sold at December under Average cost, Firstin firstout, Lastin
firstout and Specific identification inventory costing methods. For Specific identification, assume that the first sale was selected two
fifths from the beginning inventory and threefifths from the purchase of January Assume that the second sale was selected from
the remainder of the beginning inventory, with the balance from the purchase of May
Complete this question by entering your answers in the tabs below.
Req A
Req B and C
Compute the amount of ending inventory and cost of goods sold at December under Average cost, Firstin firstout, Last
in firstout, Specific identification of the inventory costing methods. For Specific identification, assume that the first sale was
selected twofifths from the beginning inventory and threefifths from the purchase of January Assume that the second
sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
