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1. Calculate the ending inventory and cost of goods sold for January using the FIFO and perpetual method: #units Costunit TotalCOGS #units Costunit Total inventory Date 01/01/20 Beginning inventory 01/20/20 Sold 20 units 15 40 100.00 105.00 1,500.00 4,200.00 5,700.00 55 - 01/25/20 Purchased 30 units @ $107.50 01/31/20 Sold 32 units Inventory COGS 2. Calculate the ending inventory and cost of goods sold for January using the LIFO and perpetual method: #units Costunit Total COGS #units Costunit Total inventory Date 01/01/20 Beginning inventory 15 100.00 105.00 1,500.00 4,200.00 5,700.00 01/20/20 Sold 20 units 01/25/20 Purchased 30 units @ $107.50 01/31/20 Sold 32 units Inventory COGS $ 3. Calculate the ending inventory and cost of goods sold for January using the weighted average and perpetual method: Date #units Costunit Total COGS #units Costunit Total inventory 01/01/20 Beginning Weighted average formula: Total 15 100.00 1,500.00 inventory units total.cost 40 105.00 4,200.00 55 5,700.00 01/20/20 Sold 20 units 01/25/20 Purchased 30 units @ $107.50 01/31/20 Sold 32 units $ Inventory COGS COGS Inventory A comparisson of inventory methods 3.500 3.400 3,400 2.300 FIFO WA LIFO FIFO WA LIFO 4. Solve for the missing amounts: $ 5,177,820 Beginning inventory + New purchases = Goods available for sale - Costofgoods sold = Ending inventory 5,000 25,871 30,871 81,327,111 97,282,826 78,995,108 ********# 10,332,761 10,988,988 10,509,671 $ 479.317 15,025 250,753 265,778 247,050 $ 123365 91,542,008 643.763 Units x LCM 5. Calculate the lower of cost or market for the following inventory items: Units Inventory items Original cost Replacement 35 Bicycle - off-road 175.50 209.25 Scooters 52.05 47.95 Roller blades 37.45 36.10 Wagons 65.85 63.50 Total inventory value: 52

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