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Problem 6-03A a, b1-b2, c (Part Level Submission) (Video) Whispering Winds Corp. had a beginning inventory on January 1 of 143 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. Mar. 15 July 20 380 units 238 units at at $23 $24 Sept. 4 Dec. 2 333 units 95 units at at $26 $29 950 units were sold. Whispering Winds Corp. uses a periodic inventory system. (a) Your answer is correct. Determine the cost of goods available for sale. The cost of goods available for sale 28,725 Click if you would like to Show Work for this question: Open Show Work

Answer 1

Periodic : FIFO Goods Purchasd Cost of Goods Sold Inventory Balance cost of Goods # of Units Cost Per Available for sales sold Unit Cost of Goods Sold Cost Per Ending Unit Inventory Cost Per Unit # of Units 143 20 2860 143 2860 23 # of Units Beginning inventory Purchases Mar-15 Jul-201 Sep-04 Dec-02 Totals Periodic : LIFO 24 380 238) 333 95 1189 8740 5712 8658 2755 28725 380 238 189 8740 5712 4914 144 29 29 95 3744 2755 6499 950 22226 239 Goods Purchasd Cost of Goods Sold Inventory Balance cost of Goods # of Units Cost Per Unit Available for sales sold Cost Per Unit Cost of Goods Sold Cost Per Ending Unit Inventory # of Units 143 2860 20 143 - 20 2860 # of Units Beginning inventory Purchases Mar-15 Jul-20 Sep-04 Dec-02 2208 380 238 333 95 1189 8740 5712 8658 2755 28725 284 238 333 26 6532 5712 8658 2755 23657 101010 26 291 95 291 29 Totals 950 5068

Periodic : Weighted Average Goods Purchasd Cost of Goods Sold Inventory Balance # of Units Cost Per Unit cost of Goods # of Units Available for sales sold Cost Per Unit Cost of Goods Sold # of Units Cost Per Ending Unit Inventory 143 20 2860 23 Beginning inventory Purchases Mar-15 Jul-20 Sep-04 Dec-02 Totals 380 238 333 95 1189 24 26 29 24.16 8740 5712 8658 2755 28725 950 24.16 22952 239 24.16 5774 Answers The cost of Goods Available for sale Average Cost per unit =(28725/1189) FIFO LIFO Ending inventoy 6499 Cost of Goods Sold 22226 28725 24.16 Weighted Average 5068 5774 (or) 23657 22952 22951 2