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  3. part 3 please scoreshy inc tracks the number of u

Part 3 Please Scoreshy Inc tracks the number of units purchased and sold throughout...

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Accounting

imagePart 3 Please

Scoreshy Inc tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the year, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 a Inventory, Beginning For the year b. Purchase March 5 C. Purchase, September 19 d Sale, April 15 (sold for $29 per unit) e Sale, October 31 (sold for $31 per unit) f. Operating expenses (excluding income tax exponse), $250,000 3,000 9,500 5.000 4,000 8000 Required: 1. Calculate the number and cost of goods available for sale. Number of Goods Available for Sale 17 500 units Cost of Goods Available for Sale $ 164,500 2. Calculate the number of units in ending inventory 5,500 units 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b LIFO, average cost and (c) weighted of Ending Invento oods Sold FIFO LIFO Weighted Average Cost $ 105,000 118,000 $112,800

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