Causwell Company began 2021 with 10,000 units of inventory on hand. The cost of each unit was $5.00. During 2021 an additional 30,000 units were purchased at a single unit cost, and 20,000 units remained on hand at the end of 2021 (20,000 units therefore were sold during 2021). Causwell uses a periodic inventory system. Cost of goods sold for 2021

Altira Corporation provides the following information related to its inventory during the month of August 2024: August 1 Inventory on hand-2,900 units; cost $7.00 each. August 8 Purchased 14,500 units for $6.40 each. August 14 Sold 11,600 units for $12.90 each. August 18 Purchased 8,700 units for $6.00 each. August 25 Sold 10,600 units for $11.90 each. August 28 Purchased 4,900 units for $5.80 each. August 31 Inventory on hand-8,800 units. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2024, balance sheet and the cost of goods sold it would report in its August 2024 income statement using last-in, first-out (LIFO). Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Inventory Balance Perpetual LIFO: Number of units Cost per unit Cost of Goods Available for Sale Number of Cost Cost of units sold per unit Goods Sold Number of units sold Cost per unit Cost of Goods…

Autok Fabricators, Inc. has 10 units in beginning inventory costing $45 each. It purchased 90 more for $36each during the month. The company sold 80 units during the month. Autok used a periodic inventorysystem.Calculate cost of goods sold using:a) FIFOb) Weighted-average costc) LIFO

Samuelson and Messenger (SAM) began 2021 with 360 units of its one product. These units were purchased near the end of 2020 for $25 each. During the month of January, 180 units were purchased on January 8 for $28 each and another 360 units were purchased on January 19 for $30 each. Sales of 140 units and 260 units were made on January 10 and January 25, respectively. There were 500 units on hand at the end of the month. SAM uses a perpetual inventory system. Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. 2. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. Perpetual FIFO Beg. Inventory Purchases: January 8 January 19 Total Cost of Goods Available for Sale # of units Cost…