Question
1. Calculate a) cost of goods sold (10 points), b) ending inventory (10 points), and c) gross margin (10 points) for B76 Company, considering the
1. Calculate a) cost of goods sold (10 points), b) ending inventory (10 points), and c) gross margin (10 points) for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO).
2. Calculate a) cost of goods sold (10 points), b) ending inventory (10 points), and c) gross margin (10 points) for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).
3.Calculate a) cost of goods sold (10 points), b) ending inventory (10 points), and c) gross margin (10 points) for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).
4.Compare the calculations for gross margin for B76 Company, based on the results of the perpetual inventory calculations using a). FIFO (4pts), b). LIFO (4 pts), c). AVG (2 pts).
Sales Unit Cost $200 $401 205 Beginning inventory Sold Purchased Sold Purchased Sold Ending inventory Number of Units 420 150 250 275 200 260 185 421 215 441Step by Step Solution
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