#1 PERPETUAL FIFO & AVERAGE #2&3 PERIODIC! NEED IT ASAP PLEASE AND THANK YOU! CLEAR WRITING PLEASE!

The following are the summaries of Inventory purchases and uses/sales for lanuary 1 to February 28, 2021 Spark Pluss and Filters Units Purchased Cost/Unit Units Used 20 units 50 units $1.30 Date January 2 January 9 January 30 February 6 February 20 February 27 40 units 30 units $1.40 45 units 60 units $1.50 ESER has a work order system for each repair and records cost of goods sold immediately upon using the parts Units Purchased Cost/Unit Units Sold 50 units 100 units $2.60 Date January 9 January 23 January 30 February 13 February 28 40 units 50 units $2.75 45 units Note: The number of purchases and uses/sales of inventory have been reduced to demonstrate the important inventory accounting concepts, but manage the workload required to respond to the tasks in this lab. Tasks 1. Based on the information provided, Bob would like you to determine the February 28, 2021 inventory of Spark Plugs and bulk oil (in units and dollars) and cost of goods sold for the two month period from January 1 to February 28, 2021 on these items. He has asked that you provide detailed supporting calculations and round all per unit amounts to the nearest cent and all cost of goods sold and inventory amounts to the nearest dollar 2. Throughout January and February 2021, ESER sold its Spark Plugs and Filters at a price of $3.50 each. Please calculate the gross profit margin on Spark Plugs and Filters. Please express the gross profit margin as a percentage and round the result to two decimal places. (Hint: figure out the total sales dollars and use the Cof GS from part 1) 3. At Bob's request you need to redo the calculations of ending inventory and cost of goods sold for the two products using a periodic inventory system to show the difference Similar to the work you did above, you plan to provide detailed supporting calculations and round all per unit amounts to the nearest cent and all cost of goods sold and inventory amounts to the nearest dollar. (Do not do gross profit calculations) The following are the summaries of Inventory purchases and uses/sales for lanuary 1 to February 28, 2021 Spark Pluss and Filters Units Purchased Cost/Unit Units Used 20 units 50 units $1.30 Date January 2 January 9 January 30 February 6 February 20 February 27 40 units 30 units $1.40 45 units 60 units $1.50 ESER has a work order system for each repair and records cost of goods sold immediately upon using the parts Units Purchased Cost/Unit Units Sold 50 units 100 units $2.60 Date January 9 January 23 January 30 February 13 February 28 40 units 50 units $2.75 45 units Note: The number of purchases and uses/sales of inventory have been reduced to demonstrate the important inventory accounting concepts, but manage the workload required to respond to the tasks in this lab. Tasks 1. Based on the information provided, Bob would like you to determine the February 28, 2021 inventory of Spark Plugs and bulk oil (in units and dollars) and cost of goods sold for the two month period from January 1 to February 28, 2021 on these items. He has asked that you provide detailed supporting calculations and round all per unit amounts to the nearest cent and all cost of goods sold and inventory amounts to the nearest dollar 2. Throughout January and February 2021, ESER sold its Spark Plugs and Filters at a price of $3.50 each. Please calculate the gross profit margin on Spark Plugs and Filters. Please express the gross profit margin as a percentage and round the result to two decimal places. (Hint: figure out the total sales dollars and use the Cof GS from part 1) 3. At Bob's request you need to redo the calculations of ending inventory and cost of goods sold for the two products using a periodic inventory system to show the difference Similar to the work you did above, you plan to provide detailed supporting calculations and round all per unit amounts to the nearest cent and all cost of goods sold and inventory amounts to the nearest dollar. (Do not do gross profit calculations)