1(a). Compute the number of units available for sale in March. 1(b). Compute the number of units in ending inventory on March 31. 2. Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase.

1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEOs bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO?

ATV Co. began operations on March 1. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Wednesday Tuesday Thursday Friday Saturday Sunday Monday Legend No Purchases or Sales Purchases Sales 1 N 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 + ableau K PO ATV Co. began operations on March 1. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Wednesday Tuesday Thursday Friday Saturday Sunday Monday Legend I No Purchases or Sales Purchases Sales 1 2 Purchase 100 units $50 each 3 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 2 28 29 30 31 ** + ableau ATV Co. began operations on March 1. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Wednesday Sunday Monday Tuesday Thursday Friday Saturday Legend I No Purchases or Sales Purchases Sales 1 2 3 4 5 5 6 7 8 9 Purchase 400 units $55 each 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 + ableau ATV Co. began operations on March 1. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Wednesday Tuesday Thursday Friday Saturday Sunday Monday Legend I No Purchases or Sales Purchases Sales 1 2 2 3 3 4 5 6 7 8 9 Sales 420 units $85 each 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 2 28 29 30 31 ** + ableau K ATV Co. began operations on March 1. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Wednesday Sunday Monday Tuesday Thursday Friday Saturday Legend I No Purchases or Sales Purchases Sales 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Purchase 120 units $60 each 24 25 26 27 28 29 30 31 + ableau ATV Co. began operations on March 1. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Wednesday Tuesday Thursday Friday Saturday Sunday Monday Legend I No Purchases or Sales Purchases Sales 1 2 2 3 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 2 28 29 30 Purchase 200 units $62 each 31 ** + ableau ATV Co. began operations on March 1. It entered into purchases and sales for March as shown in the Tableau Dashboard. March Wednesday Tuesday Thursday Friday Saturday Sunday Monday Legend I No Purchases or Sales Purchases Sales 1 2 2 3 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 2 28 29 30 Sales 160 units $95 each 31 ** + ableau 1(a). Compute the number of units available for sale in March. 1(b). Compute the number of units in ending inventory on March 31. 2. Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Compute the number of units available for sale in March. Activity March 1 March 5 March 18 March 25 Units available for sale Units 100 500 200 400 1,200 1(a). Compute the number of units available for sale in March. 1(b). Compute the number of units in ending inventory on March 31. 2. Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Compute the number of units in ending inventory on March 31. Ending inventory 240 units Required 1A Required 2 > 1(a). Compute the number of units available for sale in March. 1(b). Compute the number of units in ending inventory on March 31. 2. Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS 50 100 400 en en March 1 March 5 March 18 March 25 55 Ending Inventory Ending Cost Per Ending Inventory- Unit Inventory- Units Cost 100 $ 50 $ 5,000 500 $ 55 27,500 200 $ 60 12,000 400 X $ 62 24,800 1,200 $ 69,300 Purchase Purchase Purchase Purchase $ 60 120 200 $ 62 820 0 0 @ IS 60.00 > $ 80 x 120 50.00 56.00 60.00 $ 4,000.00 6,600.00 S $ S 10.600.00 March 25 200 IS 62.00 80X $ 50.00 = 120 @ @ IS 56.00 60.00 $ 4,000.00 6,600.00 12.000.00 200 $ $ 62.00 $ 22,500.00 March 29 $ 50.00 IS $ 80 @ 80 00 50.00 55.00 60.00 62.00 60 X 62 s $ 56.00 60.00 3,300.00 3.720.00 S $ 4,400.00 4,800.00 0.00 9.200.00 IS 62.00 S $ 7.020.00 Totals IS 31,800.00 $ 7,020.00 Required 1 FIFO Required 1 LIFO > 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 1 FIFO Required 1 Gross Profit LIFO Required 2 Required 3 The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. Perpetual LIFO: Date # of Goods Purchased Cost per units unit IS 50.00 Cost of Goods Sold Cost Cost of Goods per unit Sold # of units sold # of units March 1 100 100 Inventory Balance Cost per Inventory Balance unit IS 50.00 IS 5.000.00 S 50.00 $ 5,000.00 IS 56.00 22.000.00 S 27.000.00 March 5 400 $ 56.00 100 400 March 9 $ 50.00 IS 400 @ 20 @ IS 20.000.00 1.100.00 $ 21,100.00 50.00 55.00 $ 55.00 80 x IS $ $ 4.400.00 4.400.00 March 18 120 IS 60.00 800 $ 4,000.00 $ $ $ 50.00 56.00 60.00 120 7,200.00 11,200.00 IS March 25 200 IS 62.00 80 $ 4,000.00 50.00 55.00 $ $ $ IS 60.00 1200 200 7 200.00 12.400.00 62.00 S 23 600.00 March 29 160 s 80 > S 8,000.00 0.00 $ 4,000.00 S $ 50.00 $ 56.00 S 80.00 $ 62.00 50.00 55.00 60.00 0.00 $ 120 40 7,200.00 2.480.00 0.00 $ 62.00 $ 8,000.00 $ 13,680.00 Totals $ 29,100.00 $ 13.680.00 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 FIFO Required 1 Required i Gross Profit LIFO Required 3 Required 2 The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. Sales Cost of goods sold Gross profit ololo FIFO: 50.900$ 31.800 19.100 LIFO: 50.900 32.920 17.980 $ 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 FIFO Required 1 LIFO Required 1 Gross Profit Required 2 Required 3 The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? If the CEO wishes to maximize her bonus, which of the following methods would you recommend? FIFO 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 FIFO Required 1 LIFO Required 1 Gross Profit Required 2 Required 3 Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? If income taxes are based on a percentage of net income, which method would you recommend to the CEO? LIFO 1(a). Compute the number of units available for sale in March. 1(b). Compute the number of units in ending inventory on March 31. 2. Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Compute the number of units in ending inventory on March 31. Ending inventory 240 units Required 1A Required 2 > 1(a). Compute the number of units available for sale in March. 1(b). Compute the number of units in ending inventory on March 31. 2. Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Specific Identification Available for Sale Cost of Goods Sold Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS 50 100 400 en en March 1 March 5 March 18 March 25 55 Ending Inventory Ending Cost Per Ending Inventory- Unit Inventory- Units Cost 100 $ 50 $ 5,000 500 $ 55 27,500 200 $ 60 12,000 400 X $ 62 24,800 1,200 $ 69,300 Purchase Purchase Purchase Purchase $ 60 120 200 $ 62 820 0 0 @ IS 60.00 > $ 80 x 120 50.00 56.00 60.00 $ 4,000.00 6,600.00 S $ S 10.600.00 March 25 200 IS 62.00 80X $ 50.00 = 120 @ @ IS 56.00 60.00 $ 4,000.00 6,600.00 12.000.00 200 $ $ 62.00 $ 22,500.00 March 29 $ 50.00 IS $ 80 @ 80 00 50.00 55.00 60.00 62.00 60 X 62 s $ 56.00 60.00 3,300.00 3.720.00 S $ 4,400.00 4,800.00 0.00 9.200.00 IS 62.00 S $ 7.020.00 Totals IS 31,800.00 $ 7,020.00 Required 1 FIFO Required 1 LIFO > 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 1 FIFO Required 1 Gross Profit LIFO Required 2 Required 3 The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. Perpetual LIFO: Date # of Goods Purchased Cost per units unit IS 50.00 Cost of Goods Sold Cost Cost of Goods per unit Sold # of units sold # of units March 1 100 100 Inventory Balance Cost per Inventory Balance unit IS 50.00 IS 5.000.00 S 50.00 $ 5,000.00 IS 56.00 22.000.00 S 27.000.00 March 5 400 $ 56.00 100 400 March 9 $ 50.00 IS 400 @ 20 @ IS 20.000.00 1.100.00 $ 21,100.00 50.00 55.00 $ 55.00 80 x IS $ $ 4.400.00 4.400.00 March 18 120 IS 60.00 800 $ 4,000.00 $ $ $ 50.00 56.00 60.00 120 7,200.00 11,200.00 IS March 25 200 IS 62.00 80 $ 4,000.00 50.00 55.00 $ $ $ IS 60.00 1200 200 7 200.00 12.400.00 62.00 S 23 600.00 March 29 160 s 80 > S 8,000.00 0.00 $ 4,000.00 S $ 50.00 $ 56.00 S 80.00 $ 62.00 50.00 55.00 60.00 0.00 $ 120 40 7,200.00 2.480.00 0.00 $ 62.00 $ 8,000.00 $ 13,680.00 Totals $ 29,100.00 $ 13.680.00 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 FIFO Required 1 Required i Gross Profit LIFO Required 3 Required 2 The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. Sales Cost of goods sold Gross profit ololo FIFO: 50.900$ 31.800 19.100 LIFO: 50.900 32.920 17.980 $ 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 FIFO Required 1 LIFO Required 1 Gross Profit Required 2 Required 3 The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? If the CEO wishes to maximize her bonus, which of the following methods would you recommend? FIFO 1. The CEO has asked you to help her decide whether to use LIFO or FIFO for inventory costing. Compute the gross profit earned by the company for both LIFO and FIFO. 2. The CEO's bonus is calculated using net income before income taxes. If the CEO wishes to maximize her bonus, which of the following methods would you recommend? 3. Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 FIFO Required 1 LIFO Required 1 Gross Profit Required 2 Required 3 Alternatively, the CEO desires the method that minimizes income taxes paid by the company in the current year. If income taxes are based on a percentage of net income, which method would you recommend to the CEO? If income taxes are based on a percentage of net income, which method would you recommend to the CEO? LIFO