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Question 1: Aga Khan Company uses a perpetual inventory system. It entered into the following...

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Accounting

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Question 1: Aga Khan Company uses a perpetual inventory system. It entered into the following calendar- year purchases and sales transactions. Units Sold at Retail Date Activities Beginning inventory Purchase Purchase. Units Acquired at Cost 600 units @ $45.00 per unit 400 units @ $42.00 per unit 200 units a $27.00 per unit 800 units 575.00 per unit Jan. 1 Feb. 10 Mar 13 Mar. 15 Aug. 21 Sep 5 Sep. 10 Sales 100 units $50.00 per unit 500 units & $46.00 per unit Purchase Purchase Sales Totals 600 units 575.00 per unit 1.400 units 1.800 units Compute the cost assigned to ending inventory using (a) FIFO, (6) LIFO, and (c) weighted average. You must follow the format used in the class to solve the problems. [6 Marks)

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