Compute the cost assigned to ending inventory using a

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3.Compute the cost assigned to ending inventory using (a)FIFO, (b)LIFO, (c)weighted average, and specific identification. For specific identification, the March 9 sale consisted of 65 units from beginninginventory and 195 units from the March 5 purchase; the March 29 sale consisted of 45 units from theMarch 18 purchase and 85 units from the March 25 purchase. (Round your average cost per unit to 2decimal places.)(d)
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$Perpetual FIFO:Goods purchasedCost of Goods SoldInventory BalanceDate# of unitsCost per unit# of units soldCost per unitCost of Goods Sold# of unitsCost per unitInventory BalanceMarch 1100@51.00=5,100.00March 5225@56.00100@51.00=5,100.00225@56.00=12,600.0017,700.00March 9100@51.00=5,100.00@51.00=160@56.00=8,960.0065@56.00=3,640.0014,060.003,640.00March 1885@61.00@51.0065@56.00=3,640.0085@61.00=5,185.008,825.00March 25150@63.00@51.0065@56.00=3,640.0085@61.00=5,185.00150@63.009,450.0018,275.00March 29@51.00=0.00@51.0065@56.00=3,640.00@56.0065@61.00=3,965.0020@61.00=1,220.00@63.00=0.00150@63.00=9,450.007,605.0010,670.00$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$Perpetual LIFO:Goods purchasedCost of Goods SoldInventory BalanceDate# of unitsCost per unit# of units soldCost per unitCost of Goods Sold# of unitsCost per unitInventory BalanceMarch 1100@51.00=5,100.00March 5225@56.00100@51.00=5,100.00225@56.00=12,600.0017,700.00March 935@51.00=1,785.0065@51.00=3,315.00225@56.00=12,600.00@56.00=14,385.003,315.00March 1885@61.0065@51.00=3,315.00@56.0085@61.00=5,185.008,500.00March 25150@63.0065@51.00=3,315.000@56.0085@61.00=5,185.00150@63.009,450.0017,950.00March 29@51.00=0.0065@51.00=3,315.000@56.00=0.00@56.000@61.00=0.0085@61.00=5,185.00130@63.00=8,190.0020@63.00=1,260.008,190.009,760.00Totals22,575.009,760.00
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$Weighted Average Perpetual:Goods purchasedCost of Goods SoldInventory BalanceDate# of unitsCost per unit# of units soldCost per unitCost of Goods Sold# of unitsCost per unitInventory BalanceMarch 1100@51.00=5,100.00March 5225@56.00100@51.00=5,100.00225@56.00=12,600.00Average325@54.46=17,700.00March 9260@54.46=14,159.6065@54.46=3,539.90March 1885@61.0065@54.46=3,539.9085@61.00=5,185.00Average150@58.17=8,724.90March 25150@63.0065@54.46=3,539.9085@61.005,185.00150@63.00=9,450.00300@60.58=18,174.90March 29130@60.58=7,875.40170@60.58=10,298.60Totals22,035.00$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$Specific Identification:Goods purchasedCost of Goods SoldInventory BalanceDate# of unitsCost per unit# of units soldCost per unitCost of Goods Sold# of unitsCost per unitInventory BalanceMarch 1100@51.00=5,100.00March 5225@56.00100@51.00=5,100.00225@56.00=12,600.0017,700.00March 965@51.00=3,315.0035@51.00=1,785.00195@56.00=10,920.0030@56.00=1,680.0014,235.003,465.00March 1885@61.0035@51.00=1,785.0030@56.00=1,680.0085@61.00=5,185.008,650.00March 25150@63.0035@51.00=1,785.0030@56.00=1,680.0085@61.00=5,185.00150@63.009,450.0018,100.00March 29@51.00=0.0035@51.00=1,785.000@56.00=0.0030@56.00=1,680.0045@61.00=2,745.0040@61.00=2,440.0085@63.00=5,355.0065@63.00=4,095.008,100.0010,000.00rev: 03_21_2013_QC_27089, 03_29_QC_27089, 04_17_2013_QC_29162 Explanation:No further explanation details are available for this problem.
9.award:0.70 out of0.70 pointsYou received credit for this question in a previous attempt4.Compute gross profit earned by the company for each of the four costing methods. For specificidentification, the March 9 sale consisted of 65 units from beginning inventory and 195 units from theMarch 5 purchase; the March 29 sale consisted of 45 units from the March 18 purchase and 85 unitsfrom the March 25 purchase. (Round your final answers to two decimal places.)$$$$$$$$$Gross MarginFIFOLIFOAvg. CostSpec. IDSales34,84034,84034,84034,840Cost of Goods Sold21,665.0022,575.0022,035.0022,335.00Gross Margin13,17512,26512,80512,505rev: 11_25_2013_QC_41127Expanded tableLearning Objective: 05-P1 Compute inventory in a perpetualsystem using the methods of specific identification, FIFO,LIFO, and weighted average.

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