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 and uses a perpetual inventory system. 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 2 3 3 4 5 6 7 00 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 tableau SP ATV Co. began operations on March 1 and uses a perpetual inventory system. 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 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 28 29 30 31 tableau SP ATV Co. began operations on March 1 and uses a perpetual inventory system. 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 2 3 3 4 5 5 6 6 7 00 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 tableau SP ATV Co. began operations on March 1 and uses a perpetual inventory system. 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 2 3 3 4 5 6 7 8 8 Sales 420 units $85 each 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 ** tableau ATV Co. began operations on March 1 and uses a perpetual inventory system. 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 3 3 4. 5 6 7 8 8 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 ** tableau ATV Co. began operations on March 1 and uses a perpetual inventory system. 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 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Purchase 200 units $62 each 31 +ableau ATV Co. began operations on March 1 and uses a perpetual inventory system. 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 2 3 3 4 5 6 7 8 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Sales 160 units $95 each 31 ** tableau 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. Complete this question by entering your answers in the tabs below. Required 1A Required 1B 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 100 400 120 200 820 1(a). Compute the number of units available for sale in March. (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. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Compute the number of units in ending inventory on March 31. Ending inventory 240 units 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. Complete this question by entering your answers in the tabs below. Required 1A Required 1B 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 an 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 Ending Inventory Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Ending Inventory- Units Cost Per Unit Ending Inventory- Cost Purchase 100 $ x X March 1 March 5 50 55 400 $ x X Purchase Purchase 120 $ X X March 18 March 25 60 62 Purchase $ X x 200 820 0 $ 0 0 $ 0 "Red text indicates no response was expected in a cell or a formuls-based calculation is incorrect; no points deducted. 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? 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 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 Cost of Goods Sold Cost Cost of Goods per unit Sold # of units sold Date # of units Goods Purchased # of Cost per units unit 100 @ $50.00 400 @ @ $ 55.00 Inventory Balance Cost per Inventory Balance unit $ 50.00 s 5,000.00 March 1 100 @ March 5 100 $ 50.00 400 @ @ $ 55.00 = $5,000.00 22,000.00 IS 27,000.00 March 9 80 a $ 50.00 IS 4,000.00 20@ S 50.00 400 @ @ $55.00 IS 1,000.00 22,000.00 $ 23,000.00 55.00 IS 4,000.00 March 18 120 @ S 60.00 $ IS 80 @ 120 @ 120 @ 50.00 55.00 $ $ 4,000.00 6,600.00 7,200.00 17,800.00 60.00 = S March 25 200 @ S 62.00 50.00 IS 4,000.00 80@ $ @ $ 120 @ $ 200 @ $ 55.00 60.00 62.00 7,200.00 12,400.00 23,600.00 S S March 29 160 = $ 80 50.00 IS S 4,000.00 S 50.00 S 55.00 $ 60.00 @ @ = 8,000.00 0.00 0.00 0.00 8,000.00 @ 120 @ 40 @ $ $ $ = 55.00 60.00 7,200.00 2,480.00 x S 62.00 = $ 62.00 S IS S 13,680.00 Totals $ 31,000.00 S S 13.680.00 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted 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? Complete this question by entering your answers in the tabs below. Required 1 Required 1 Required 1 FIFO LIFO Gross Profit 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. $ $ Salos Cost of goods sold Gross profit 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? 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? 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. (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. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Compute the number of units in ending inventory on March 31. Ending inventory 240 units 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. Complete this question by entering your answers in the tabs below. Required 1A Required 1B 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 an 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 Ending Inventory Purchase Date Activity Units Unit Cost Units Sold Unit Cost COGS Ending Inventory- Units Cost Per Unit Ending Inventory- Cost Purchase 100 $ x X March 1 March 5 50 55 400 $ x X Purchase Purchase 120 $ X X March 18 March 25 60 62 Purchase $ X x 200 820 0 $ 0 0 $ 0 "Red text indicates no response was expected in a cell or a formuls-based calculation is incorrect; no points deducted. 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? 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 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 Cost of Goods Sold Cost Cost of Goods per unit Sold # of units sold Date # of units Goods Purchased # of Cost per units unit 100 @ $50.00 400 @ @ $ 55.00 Inventory Balance Cost per Inventory Balance unit $ 50.00 s 5,000.00 March 1 100 @ March 5 100 $ 50.00 400 @ @ $ 55.00 = $5,000.00 22,000.00 IS 27,000.00 March 9 80 a $ 50.00 IS 4,000.00 20@ S 50.00 400 @ @ $55.00 IS 1,000.00 22,000.00 $ 23,000.00 55.00 IS 4,000.00 March 18 120 @ S 60.00 $ IS 80 @ 120 @ 120 @ 50.00 55.00 $ $ 4,000.00 6,600.00 7,200.00 17,800.00 60.00 = S March 25 200 @ S 62.00 50.00 IS 4,000.00 80@ $ @ $ 120 @ $ 200 @ $ 55.00 60.00 62.00 7,200.00 12,400.00 23,600.00 S S March 29 160 = $ 80 50.00 IS S 4,000.00 S 50.00 S 55.00 $ 60.00 @ @ = 8,000.00 0.00 0.00 0.00 8,000.00 @ 120 @ 40 @ $ $ $ = 55.00 60.00 7,200.00 2,480.00 x S 62.00 = $ 62.00 S IS S 13,680.00 Totals $ 31,000.00 S S 13.680.00 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted 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? Complete this question by entering your answers in the tabs below. Required 1 Required 1 Required 1 FIFO LIFO Gross Profit 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. $ $ Salos Cost of goods sold Gross profit 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? 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? 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