Flora's Gifts reported the following current-month data for its only product. The company uses a periodic...

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Accounting

Flora's Gifts reported the following current-month data for itsonly product. The company uses a periodic inventory system, and itsending inventory consists of 90 units—65 units from the January 6purchase and 25 units from the January 25 purchase. Jan. 1Beginning inventory 210 units @ $4.50 = $ 945.00 Jan. 6 Purchase385 units @ $4.30 = 1,655.50 Jan. 17 Purchase 615 units @ $3.80 =2,337.00 Jan. 25 Purchase 37 units @ $3.50 = 129.50 Totals 1,247units $ 5,067.00 Determine the cost assigned to ending inventoryand to cost of goods sold for the following.
Ending Inventory Cost of Goods Sold
(a) Specific identification
(b) Weighted average
(c) FIFO
(d) LIFO

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aSpecific IdentificationEndingInventoryCost of GoodsSoldDateUnitsUnits CostTotal CostCost ofGoods available for sales5067Jan066543027950LessEnding See Answer

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