Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July.

		Units	Unit Cost
July 1	Beginning Inventory	2,000	$	40
July 5	Sold	1,000
July 13	Purchased	6,000		44
July 17	Sold	3,000
July 25	Purchased	8,000		46
July 27	Sold	5,000

Calculate the cost of goods available for sale, ending inventory, and cost of goods sold if Aircard uses (a) FIFO, (b) LIFO, or (c) weighted average cost. (Round "Cost per Unit" to 2 decimal places.)

	FIFO	LIFO	Weighted Average Cost
Cost of Goods Available for Sale
Ending Inventory
Cost of Goods Sold

Expert Solution

ekkarill92 answered 2 years ago

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a perpetual inventory system. The following are the transactions for the month of July. Units Unit Cost July 1 Beginning Inventory 2,600 $46 July 5 Sold 1,300 July 13 Purchased 6,600 50 July 17 Sold 3,600 July 25 Purchased 8,600 56 July...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July. Units Unit Cost July 1 Beginning Inventory 2,000 $ 40 July 5 Sold 1,000 July 13 Purchased 6,000 42 July 17 Sold 3,000 July 25 Purchased 8,000 44 July 27 Sold 5,000 Calculate the cost of...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July. Units Unit Cost July 1 Beginning Inventory 2,000 $ 50 July 5 Sold 1,000 July 13 Purchased 6,000 54 July 17 Sold 3,000 July 25 Purchased 8,000 56 July 27 Sold 5,000 Calculate the cost of...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July. Units Unit Cost July 1 Beginning Inventory 2,000 $ 20 July 5 Sold 1,000 July 13 Purchased 6,000 24 July 17 Sold 3,000 July 25 Purchased 8,000 26 July 27 Sold 5,000 FIFO LIFO Weighted Average...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies...

Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July. Units Unit Cost July 1 Beginning Inventory 2,500 $ 50 July 5 Sold 1,500 July 13 Purchased 6,500 54 July 17 Sold 3,500 July 25 Purchased 8,500 56 July 27 Sold 5,500 Calculate the cost of...

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Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies...

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Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies...

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