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Calculate the dollar amount of ending inventory

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Reference no: EM132523224

The inventory records of ZUP indicate the following regarding its best-selling product for the month of January:

                                               Units                          Unit cost
Opening inventory                 6,000                        $4.00
Purchase 1                        4,000                              3.70
Sale 1                               (3,600)
Purchase 2                            8,000                            2.80
Sale 2                                 (5,000)
Ending inventory                       9,400

Required:

Question 1: Calculate the dollar amount of ending inventory and cost of goods sold under each of the following cost flow assumptions:

a. Weighted-average cost, periodic inventory.

b. First-in, first-out (FIFO), perpetual inventory.

c. Weighted-average cost, perpetual inventory.

Reference no: EM132523224

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