A company purchased merchandise to be resold at increasing costs during the year 2020. The purchases were made at the following costs January 1,2020 (Carried over from 2019) 20 unit at $10 January 25,2020 purchase 40 unit at $11 June 20, 2020 purchase 40 unit at $12 October 10, 2020 purchase 50 unit at $13 Assuming the LIFO periodic cost flow assumption, what will be the company's cost of goods sold for the 120 items sold in 2020?

d. Weighted average.                         Goods Purchased Cost of Goods Sold Balance in Inventory   Date Units Unit Cost Total $ Units Unit Cost Total $ Units Unit Cost Total $     Jan. 1             200 $2.00     3 400 $3.00                 8 400 $5.00                 10                     15 300 $7.00                 20                     27 400 $7.00                                                             Northgate Products Corp. sells gadgets and uses the perpetual inventory system. During the month of January 2019, the number of gadgets purchased and sold was as follows:                         Purchased Sold Balance in inventory Date Units Unit cost Total $ Units   Unit cost Total $ Units Unit cost Total $ Jan. 1               200 $2   3 400 $3                 8 400 $5                 10       700 *           15 300 $7                 20       300 **           27 400 $7…

Your company had the following chronological inventory transactions during 2019 and 2020: 2019 Beginning Inventory 20 units cost = $20.00 per unit Purchased 80 units cost = $21.00 per unit Sold 77 units selling price = $45.00 per unit Purchased 60 units cost = $21.60 per unit Sold 61 units selling price = $46.00 per unit Purchased 15 units cost = $22.00 per unit Ending Inventory 37 units 2020 Beginning Inventory 37 units ending inventory from 2019 Purchased 90 units cost = $22.40 per unit Sold 86 units selling price = $47.00 per unit Purchased 72 units cost = $23.00 per unit 74 units Sold selling price = $48.00 per unit Ending Inventory 39 units INSTRUCTIONS: A. Calculate the value of Ending Inventory which would appear on the balance sheet for EACH year using each of the following methods. Please show your work for the 37 units of 2019 and your work for the 39 units of 2020. Round all costs per unit to two decimals and show your final answer to the nearest penny. 1. Periodic FIFO for…

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