adstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory osting method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the sllowing information at the end of the annual accounting period, December 31 . Assuming that for Specific identification method (ftem 10) the March 14 sale was selected two-fiths from the beginning inventory and three-fifths from the purchase of January 30 Requitred: 1. Compute the amount of goods avoliable for sale, ending inventory, and cost of goods sold at December 31 under each of the following inventory conting methods A Last-1n, first-quit 6. Witighted wyerage cost. c. Firstin, first-out. d. Spechic identification, assuming that the March 14 sole was selected two-fiths from the beginning inventory and three-fiths from. the purchate of Jenusy 30 . Assume that the sale of August 31 was selected from the remainder of the beginning invertary. with the balance from the purchase of May 1 2a-a, of the four methods, which will renult in the highest gross profit? 2.b. Of the fouf mathods, which will result in the fowest income takes? Complate this question by entering your answers in the tabs below. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December 31 under each of the Inventory conting methods. (Round intermediate calculations to 2 decimal places and final answerz to the nearest whole dollar inmount.) adstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory osting method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the sllowing information at the end of the annual accounting period, December 31 . Assuming that for Specific identification method (ftem 10) the March 14 sale was selected two-fiths from the beginning inventory and three-fifths from the purchase of January 30 Requitred: 1. Compute the amount of goods avoliable for sale, ending inventory, and cost of goods sold at December 31 under each of the following inventory conting methods A Last-1n, first-quit 6. Witighted wyerage cost. c. Firstin, first-out. d. Spechic identification, assuming that the March 14 sole was selected two-fiths from the beginning inventory and three-fiths from. the purchate of Jenusy 30 . Assume that the sale of August 31 was selected from the remainder of the beginning invertary. with the balance from the purchase of May 1 2a-a, of the four methods, which will renult in the highest gross profit? 2.b. Of the fouf mathods, which will result in the fowest income takes? Complate this question by entering your answers in the tabs below. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December 31 under each of the Inventory conting methods. (Round intermediate calculations to 2 decimal places and final answerz to the nearest whole dollar inmount.)
