Waterway Company had a beginning inventory on January 1 of 180 units of Product 4-18-15...
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Waterway Company had a beginning inventory on January 1 of 180 units of Product 4-18-15 at a cost of $ 20 per unit. During the year, purchases were as follows. Mar. 15 490 units at $ 12 Sept. 4 320 units at $20 July 20 250 units at $ 18 Dec. 2 100 units at $ 24 Waterway Company uses a periodic inventory system. Sales totaled 1,120 units. (a) Determine the cost of goods available for sale. The cost of goods available for sale $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (61) Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 1.250.) Average cost per unit $ $ (b2) Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to O decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Which cost flow method results in the highest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? results in the highest inventory amount, $ produces the highest cost of goods sold, $
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