Restoration Company has the following inventory transactions for January: Opening Inventory January 1st $32,000 (4,000 units @ $8) Purchase #1 January 10th 9,790 units @ $11 Purchase #2 January 15th 6,000 units @ $12 Sale #1 January 20th 16,790 units @ $20 Purchase #3 January 25th 2,000 units @ $14 Required 1: What is the cost of goods sold for January if the company uses the FIFO periodic inventory method? $ Required 2: What is the Cost of Goods Sold for January if the company uses the LIFO periodic inventory system? $ Required 3: What is the Cost of Goods Sold for January if the company uses the Weighted Average periodic inventory system? $ Required 4: What is the cost of goods sold for January if the company uses the FIFO perpetual inventory method? $ Required 5: What is the Cost of Goods Sold for January if the company uses the LIFO perpetual inventory system? $ Required 6: What is the Cost of Goods Sold for January if the company uses the Weighted Average perpetual inventory system? $
Restoration Company has the following inventory transactions for January: Opening Inventory January 1st $32,000 (4,000 units @ $8) Purchase #1 January 10th 9,790 units @ $11 Purchase #2 January 15th 6,000 units @ $12 Sale #1 January 20th 16,790 units @ $20 Purchase #3 January 25th 2,000 units @ $14 Required 1: What is the cost of goods sold for January if the company uses the FIFO periodic inventory method? $ Required 2: What is the Cost of Goods Sold for January if the company uses the LIFO periodic inventory system? $ Required 3: What is the Cost of Goods Sold for January if the company uses the Weighted Average periodic inventory system? $ Required 4: What is the cost of goods sold for January if the company uses the FIFO perpetual inventory method? $ Required 5: What is the Cost of Goods Sold for January if the company uses the LIFO perpetual inventory system? $ Required 6: What is the Cost of Goods Sold for January if the company uses the Weighted Average perpetual inventory system? $
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