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1 Units Bold at Retail Date Activities January 1 Beginning inventory Tebruary 10 Purchase March 13 Purchase Marah is Sales August 21 Purebase September Purehase
1 Units Bold at Retail Date Activities January 1 Beginning inventory Tebruary 10 Purchase March 13 Purchase Marah is Sales August 21 Purebase September Purehase Beptember 10 Sales Totala Unita Aequired at Coat 685 units $45.00 per unit 570 unita $42.00 per unit 285 units $27.00 per unit 1.140 units 185 unita 585 units $75.00 per unit $50.00 per unit # $46.00 per unit 2,310 units 716 anita 1,910 units $75.00 per unit Book Required: 1. Compute cost of goods available for sale and the number of units available for sale. erences Cost of goods available for sale Number of units available for sale $ 98,620 2,310 units 2. Compute the number of units in ending inventory Ending in 400 units 3. Compute the cost assigned to ending Inventory using a FFO, () LIFO, weighted average, and (d) specific identification. For specific identification, units sold consist of 685 units from beginning Inventory, 385 from the February 10 purchase, 285 from the March 13 purchase, 135 from the August 21 purchase, and 420 from the September 5 purchase, Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.) FIFO FO Wegheva Ending Inventory 8.610 5 uw, Heater pur,RAU WEIS MURIT YMy worper decimal places. Round your final answers to the nearest whole dollar amount.) (a) FIFO (6) LIFO Ending Inventory $ 8,510 $ 12825 (c) Weighted average (d) Specific identification 4. Compute gross profiteamed by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.) TO Boca Low Cost of goods sold Grosir 5. The company's manager eams a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? Weighted Average FIFO Specific Identification DUFO
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