Compute the total cost of the units available for sale

Question

During August, BP Company sold 850 units of Product G.  The beginning inventory and purchases during the month are below.

Assignment Template attached below.

August 1		Beginning Inventory Balance	150 units @ $2.00
August 5		Purchase	300 units @ $2.50
August 10		Purchase	200 units @ $2.75
August 25		Purchase	250 units @ $2.80
August 30		Purchase	100 units @ $2.80

The following sales were made during August.

August 4	Sales	130 units @ $10
August 6	Sales	300 units @ $10
August 13	Sales	180 units @ $10
August 28	Sales	240 units @ $10

Required: Using the perpetual inventory system, compute the following amounts.  Place your answers in the template provided below.

1. Compute the total units available for sale.
2. Compute the total cost of the units available for sale.
3. Compute the cost of goods sold using the FIFO method.
4. Compute the ending inventory using the FIFO method.
5. Compute the cost of goods sold using the LIFO method.
6. Compute the ending inventory using the LIFO method.
7. Compute the cost of goods sold using the moving average method, round both total dollars and dollars per unit to the nearest cent.
8. Compute the ending inventory using the moving average method, round both total dollars and dollars per unit to the nearest cent.
9. For each method, what numbers do you get when you add the cost of goods sold and ending inventory together for both units and dollars?

Instructions:

Complete this assignment using an Excel spreadsheet, and date and explain each entry on your deliverable.