Solution-Calculate the value of ending inventory and cost

Calculate the value of ending inventory and cost of good

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Question 2- XYZ uses the period method and had the following inventory events during January:

Date	Units Purchased	Unit Cost	Date	Units Sold	Unit Sales Price
Jan. 1	150	$7.00	Jan. 2	100	$10.00
Jan. 5	225	7.20	Jan. 7	125	10.00
Jan. 10	100	7.50	Jan. 12	75	12.00
Jan. 15	150	7.80	Jan. 17	200	12.50
Jan. 20	200	7.95	Jan. 24	150	15.00
Jan. 25	150	8.00
Jan. 30	75	8.20

Note: January 1 amount was the beginning inventory and unit value. (Round all total dollar values to the nearest dollar. Round all unit values to the nearest penny.)

Required:

a. Calculate cost of goods available for sale.

b. Calculate the dollar value of sales.

c. Calculate the value of Ending Inventory and Cost of Good Sold under the following independent assumptions:

LIFO method

FIFO method

Average-cost method

Reference no: EM131799653

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Calculate the value of ending inventory and cost of good

Reference no: EM131799653

Reference no: EM131799653

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