Assume that Toy-Cars Inc. uses a periodic specific identification inventory system. Its ending Inventory consists of 2 cars from beginning Inventory

Assume that J-Mart uses a perpetual weighted average Inventory system. During the period, It sold 14
units. Calculate the dollar value of its cost of goods sold for the period.
Jan 1 Beginning Inventory
Jan 5 Purchase
Jan30 Purchase
Feb 8 Sale
10@$12
10@$15
10@$18
14 units x $30 each

$210
$180
$240
$420



Assume that Toy-Cars Inc. uses a periodic specific identification inventory system. Its ending Inventory
consists of 2 cars from beginning Inventory, 4 cars from the Jan. 5 purchase, and 10 cars from the
Jan. 30 purchase. Calculate the dollar value of its ending inventory, based on the information
provided below.
Jan 1 Beg. Inventory 10 cars@$12
Jan 5 Purchase 10cars@$15
Jan30 Purchase 10 cars@$18

$160
$264
$450
$186