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Inventory data for West Life Group for January 2020 are as follows: January 1st Balance:...

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Accounting

Inventory data for West Life Group for January 2020 are as follows: January 1st Balance: 80 units at $25/unit January 10th Purchase: 100 units at $28/unit January 15th Sale: 120 units January 21st Purchase: 90 units at $32/unit January 28th Sale: 110 units Required: 1. Using FIFO, compute ending inventory as of January 31st, 2020, and determine cost of goods sold for January. 2. Using the Weighted Average Method, compute ending inventory as of January 31st, 2020, and determine cost of goods sold for January. (Round to 2 decimal points)

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