Complete the Following Schedule Based on the Data Given Below

question 168

Essay

Complete the following schedule based on the data given below: $\begin{array}{ll} \text { Transaction}&\text { Units } & \text { Unit Cost } \\ \text { 1. Beginning Inventory}&4,000 & \$ 1.00 \\ \text {2. Purchase. }&6,000 & \$ 1.10 \\ \text {3. Sale \( (a \$ 4.00) \) }&7,000 & \\ \text {4. Purchase. }&2,000 & \$ 1.30\end{array}$ $\begin{array}{ll}&\text { Ending } & \text { Cost of } \\&\text { Inventory } & \text { Goods Sold } \\ \text {a. FIFO. }&\$ \_\_& \$\_\_ \\ \text { b. Annual weighted average}&\_\_& \_\_ \\\end{array}$