(613 Computing Cost of Goods Sold and Ending Inventory Uinder FIFo, LIFO, and Average Cost Computing Cost of Goods Sold and Ending Inventory Under 16- Assume that Madden Company reports the following initial balance and subsequent purcha inventorv. Inventory balance at beginning of year ......1,300 units$150 each $195,000 Inventory purchased during the year 1,700 units $180 each 306,000 Cost of goods available for sale during the year..... 3,000 units $501,000 Assume that 2,000 units are sold during the year. Compute the cost of goods sold for the year and th inventory on the year-end balance sheet under the following inventory costing methods: a. FIFO b. LIFO c. Average Cost M6-14. Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cos Wong Corporation reports the following beginning inventory and inventory purchases. 400 units $12 each 4,800 Inventory balance at beginning of year . Inventory purchased during the year 700 units@$14 each Cost of goods available for sale during the year .....1,100 units 9,800 $14,600 Wong sells 600 of its inventory units during the year. Compute the cost of goods sold for the year the inventory on the year-end balance sheet under the following inventory costing methods: and

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Date January 1 May 5 November 3 Weighted Average Transaction Beginning inventory Purchase Purchase Cost Beginning Inventory Purchases: May 5 November 3 Total Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round your average cost per unit to 4 decimal places.) Number of units Number of Units 60 Cost of Goods Available for Sale 60 Average Cost per unit 220 140 420 Cost of Goods Available for Sale $ 220 140 420 $33,700.0000 $ Unit Cost $76 4,560 79 84 17,380 11,760 33,700 Total Cost $4,560 17,380 11,760 $33,700 Cost of Goods Sold - Weighted Average Cost Number of units sold Average Cost per Unit Cost of Goods Sold 375 $30,280.0000 $ 11,355,000.00 Ending Inventory - Weighted Average Cost Number of units in ending inventory Average Cost per unit 45 $ Ending Inventory 3,420.0000 $ 153,900.00

A2 please help.....