# Note enter a number in cells requesting a value enter

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NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .(a)COST OF GOODS AVAILABLE FOR SALEDateExplanationUnitsUnit CostTotal Cost1-MarBeginning inventory1,500\$7\$10,5005-MarPurchase3,000824,00013-MarPurchase4,500940,50021-MarPurchase4,0001040,00026-MarPurchase2,5001127,500Total15,500\$142,500(b) (1)FIFOEnding InventoryDateUnitsUnit CostTotal Cost26-Mar2,500\$11\$27,50021-Mar1,0001010,0003,500\$37,500(b) (2)Cost of Goods SoldCost of goods available for sale\$142,500Less: Ending inventory37,500Cost of goods sold\$105,000Proof of Cost of Goods SoldDateUnitsUnit Cost Total Cost1-Mar1,500\$7\$10,5005-Mar3,000824,00013-Mar4,500940,50021-Mar3,0001030,00012,000\$105,000(b) (1)LIFOEnding InventoryDateUnitsUnit CostTotal Cost1-Mar1,500\$7\$10,5005-Mar2,0008 16,0003,500\$26,500(b) (2)Cost of Goods SoldCost of goods available for sale\$142,500Less: Ending inventory26,500Cost of goods sold\$116,000Proof of Cost of Goods SoldDateUnitsUnit Cost Total Cost26-Mar2,500\$11\$27,50021-Mar4,0001040,00013-Mar4,500940,5005-Mar1,00088,00012,000\$116,000(b) (1)AVERAGE COSTTotal cost\$142,500Total units available15,500Average cost*\$9.194*Round average cost per unit to 3 decimal places.Ending InventoryUnitsUnit CostTotal Cost3,500\$9.194\$32,179Cost of Goods SoldCost of goods available for sale\$142,500Less: Ending inventory32,179Cost of goods sold\$110,321