Reference no: EM132711268

Dominic Company provided the following information for the month of January:

                                          Units              Unit Cost       Total Cost

January 1 Beginning Balance  10,000              150              1,500,000

January 5 Purchase               10,000            180              1,800,000

January 15 Sale 15,000

January 16 Sale Return 1,000

January 25 Purchase                     4,000       200            800,000

January 26 Purchase Return        2,000       200                400,000

Problem 1: Under the FIFO method, what amount should be reported as cost of goods sold?

Problem 2: Under the weighted average, what amount should be reported as ending inventory?

Problem 3: Under the moving average method, what amount should be reported as ending inventory?

Problem 4: Under the moving average method, the next sale of inventory would be priced at what cost?