(Answered) Problem - assume the following data for windy road co for

Accounting

Problem - Assume the following data for Windy Road Co. for November 2010:

Beginning inventory Nov. 1 6 units at $80 each

Sale Nov. 3 2 units at $120 each

Nov. 6 purchase 10 units at $90 each

Sale Nov. 8 6 units at $110 each

Sale Nov. 9 3 units at $110 each

Required:

1) Calculate ending inventory and Cost of Goods Soldfor Windy Road Co. assuming the moving weighted-average cost method is being used.

2) Calculate ending inventory and Cost of Goods Sold for Windy Road Co. assuming the FIFO cost method is being used.

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