Question Two: 10p Shandy Shutters has the following inventory information. Date Explanation Units Cost per...
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Question Two: 10p Shandy Shutters has the following inventory information. Date Explanation Units Cost per Unit Nov. 1 Beg. Inventory 45 units 6 8 Purchase 80 units 6.45 17 Purchase 90 units 6.30 25 Purchase 135 units 6.60 A physical count of merchandise inventory on November 30 reveals that there are 150 units on hand (Ending Inventory) Instructions: 1. Compute the cost of goods available for sale. 2. Using FIFO, compute a. the cost of ending inventory b. the cost of goods sold 3. Using Average Cost, compute a. the cost of ending inventory b. the cost of goods sold
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