Extreme Company showed the following information: Total cost Unit cost Units 40. 400,000 10,000 5,000 15,000 18,000 25,000 12,000 January 1 Beginning 31 Sale 1 Purchase 31 Sale 1 Purchase December 31 Sale 50 750,000 April July October 60 1,500,00 Required: Compute the cost of the ending inventory and cost of goods sold using: a. FIFO periodic b. Weighted average c. Moving average

Calculate the ending inventory and cost of goods sold dollar values for ABC Company for the month, considering the following transactions under three different cost allocation methods and using periodic inventory updating: |(a) First-in, first-out (FIFO) (b) Last-in, first-out (LIFO) Number of Unit Cost Sales Price Units Beginning Inventory 100 $20 Purchase 400 22 Sold 300 $30 Purchase 200 24 Sold 180 $35 Ending Inventory 220

1. Compute the cost assigned to ending inventory using FIFO. 2. Compute the cost assigned to ending inventory using Weighted Average. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the cost assigned to ending inventory using Weighted Average. (Round average cost per unit to 2 decimal places.) Average Cost Ending Inventory Date March 1 March 5 March 18 March 25 Total Cost of Goods Available for Sale Cost of Goods Available for Sale $5,000.00 100 400 $ 22,000.00 120 $ 7,200.00 200 $ 12,400.00 820 $59.80 $ 46,600.00 # of units Average Cost per unit # of units sold Cost of Goods Sold Average Cost per Unit 580 $ 59.80 240 Average Cost per unit $59.80 Ending Inventory $ 14,352

Riverbed Corp reports the following for the month of June. Date   Explanation   Units   Unit Cost   Total Cost June 1   Inventory   129   $ 5   $  645 12   Purchases   344   6   2,064 23   Purchases   203   7   1,421 30   Inventory   234           Correct answer icon Your answer is correct. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost   $ enter weighted-average unit cost in dollars rounded to 3 decimal places   Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)     FIFO   LIFO   Average-cost The cost of the ending inventory   $ enter a dollar amount rounded to 0 decimal places   $ enter a dollar amount rounded to 0 decimal places   $ enter a dollar amount rounded to 0 decimal places The cost of goods sold   $ enter a dollar amount rounded to 0…