Need help with number question number 33. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.)Please explain in detail how you got the numbers for the calculations. For example in detail why and how 130 units - 60 units = 70 units and etc etc. Please and thank you, A table is confusing but if you do make a table just explain step by step. Thanks a lot. 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and togoods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.)EndingInventoryCost of GoodsSolda. FIFOb. Moving weighted average Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particularproduct in 2020 as follows:130 units @ $ 7.20 = $60 units @ $15.70 =320 units @ $ 6.50120 units @ $15.70570 units @ $ 6.30520 units @ $ 6.20710 units @ $15.70Jan.1 Beginning inventory936.00Jan. 10 Sold942.002,080.001,884.003,591.003,224.0011,147.00Mar. 7 Purchased%3DMar. 15 Sold%3DJuly 28 Purchased3 Purchased5 SoldOct.%3DOct.%3DRequired:1. Calculate the total goods available for sale (in units and cost).UnitsCostTotal goods available for sale1,5402$9,8312. Calculate the number of units sold and units remaining in ending inventory.Number of units sold890Number units remaining in ending inventory650

First-in, first-out (FIFO) cost flow assumption - Under FIFO Method, Inventory purchased first is…

Answered: Car Armour sells car wash cleaners. Car…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Need help with number question number 3

3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.)

Please explain in detail how you got the numbers for the calculations. For example in detail why and how 130 units - 60 units = 70 units and etc etc. Please and thank you, A table is confusing but if you do make a table just explain step by step. Thanks a lot.

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular
product in 2020 as follows:
130 units @ $ 7.20 = $
60 units @ $15.70 =
320 units @ $ 6.50
120 units @ $15.70
570 units @ $ 6.30
520 units @ $ 6.20
710 units @ $15.70
Jan.
1 Beginning inventory
936.00
Jan. 10 Sold
942.00
2,080.00
1,884.00
3,591.00
3,224.00
11,147.00
Mar. 7 Purchased
%3D
Mar. 15 Sold
%3D
July 28 Purchased
3 Purchased
5 Sold
Oct.
%3D
Oct.
%3D
Required:
1. Calculate the total goods available for sale (in units and cost).
Units
Cost
Total goods available for sale
1,540
2$
9,831
2. Calculate the number of units sold and units remaining in ending inventory.
Number of units sold
890
Number units remaining in ending inventory
650

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