Please teach me how to solove accounting question!!?

Question

Jan1 Beginning inventory 630 unit @$43/unit
Feb10 Purchase 358 units $44/unit
Mar.13 Purchase 207 units $31/unit
Mar 15 Sales 630 units $75/unit
Aug 21 Purchase 144 units $51/unit
Sept 5 Purchase 605 units 46/unit
Spet 10 Sales 657 units $75/unit

Total purchase: 1,944 units
Total sales: 1,287 units
Cost of goods available for sale:$84,433

Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) specific identification (Note: The units sold consist of 530 units from beginning inventory, 258 units from the February 10 purchase, 207 from the March 13 purchase, 24 from the August 21 purchase and 268 from the September 5 purchase, and), (d) weighted average.

Please show me formulas of FIFO, LIFO, specific identification, and weight average.

Answer 1

I got the following ending inventory:
(a) FIFO $30,482
(b) LIFO $28,987
(c) specific identification $30,322
(d) weighted average $29,232

There are 3 excel worksheets. If the answers are correct, and you want to see the worksheets, pls email me your email address for me to attach them.

Answer 2

FIFO means First In, First Out. You sell first from the beginning inventory, then from the Feb. 10 purchase, and so on. You use the corresponding costs to figure the Cost of Goods Sold. LIFO means Last In, First Out; the March 14 sale is taken from the March 13 purchase, the Feb. 10 purchase, etc.; the Sept. 10 sale comes from the Sept 5 purchase, the August 21 purchase, and so on. For specific identification, use the identifying data given in the problem.

Answer 3

cheapskate.... go to an accountant

Answer 4

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