1079023 + -d-fleet01-xythos.s3.amazonaws.com/5df0817545119/1079023?response-cache-control-private%2C%20max-age%3D21600&response content-disposition-inli Question #1: Ribson Company uses a perpetual inventory system. It entered into the following purchases and sales transactions. (For specific identification, units sold consist of 21 units from beginning inventory, 25 from the February 10 purchase, 20 from the May 3 purchase, 2 from the September I purchase, and 21 from the Nov 2 purchase.) Units Acquired at Cost 21 units at $175.00 per unit Units Sold at Retail 12 units at $350.00 per unit 31 units at $180,00 per unit 15 units at S350.00 per unit Date 1-Jan 7-Jan 10-Feb 12-Feb 3-May 9-May 1-Sep 5.Sep 2.Nov 1 1-Nov 26 units at $185.00 per unit Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Sales Purchase Sales Totals 19 units at $350.00 per unit 23 units at $190.00 per unit 18 units at $350.00 per unit 21 units at S195.00 per unit $350.00 per unit 25 units at 89 units 122 units USE SEPARATE PAPER! Required: 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average and (d) specific identification (Round all amounts to cents.) 4: Compute gross profit earned by the company for each of the four casting methods in part 3 1079023 + -d-fleet01-xythos.s3.amazonaws.com/5df0817545119/1079023?response-cache-control-private%2C%20max-age%3D21600&response content-disposition-inli Question #1: Ribson Company uses a perpetual inventory system. It entered into the following purchases and sales transactions. (For specific identification, units sold consist of 21 units from beginning inventory, 25 from the February 10 purchase, 20 from the May 3 purchase, 2 from the September I purchase, and 21 from the Nov 2 purchase.) Units Acquired at Cost 21 units at $175.00 per unit Units Sold at Retail 12 units at $350.00 per unit 31 units at $180,00 per unit 15 units at S350.00 per unit Date 1-Jan 7-Jan 10-Feb 12-Feb 3-May 9-May 1-Sep 5.Sep 2.Nov 1 1-Nov 26 units at $185.00 per unit Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Sales Purchase Sales Totals 19 units at $350.00 per unit 23 units at $190.00 per unit 18 units at $350.00 per unit 21 units at S195.00 per unit $350.00 per unit 25 units at 89 units 122 units USE SEPARATE PAPER! Required: 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average and (d) specific identification (Round all amounts to cents.) 4: Compute gross profit earned by the company for each of the four casting methods in part 3