The beginning inventory was 500 units at a cost of $11 per unit. Goods available for sale during the year were 1,900 units at a total cost of $22,900. In May, 800 units were purchased at a total cost of $9,600. The only other purchase transaction occurred during October. Ending inventory was 850 units. Required: a. Calculate the number of units purchased in October and the cost per unit purchased in October. b. 1. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. 2. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. Note: Enter all values as a positive value. Periodic LIFO Beginning Inventory Purchases: May October Total Cost of Goods Available for Sale Number of units 0 Cost per unit Cost of Goods Available for Sale $ $ 0 0 0 0 Cost of Goods Sold Number of units sold Cost per unit < Required B1 Cost of Goods Sold $ 0 Inventory Balance Cost per unit Number of units in ending inventory Required B2 > 0 Ending Inventory $ 0

Name: The beginning inventory was 500 units at a cost of $11 per unit. Good
Uploaded: 2024-03-20T06:32:37.000Z
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Description: The beginning inventory was 500 units at a cost of $11 per unit. Goods available for sale during the year were 1,900 units at a total costof $22,900. In May, 800 units were purchased at a total cost of $9,600. The only other purchase transaction occ