Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

all one question Required information The following information applies to the questions displayed below. Wamewoods Company uses a perpetual inventory system. It entered into the

image text in transcribedall one question
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information The following information applies to the questions displayed below. Wamewoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units sold at Hotel 320 unitat 545.20 per unit Movies Mar. 1 Seginning inventory Mar. 5 Purchase Marsales Mt. 1 Pro Mar. 25 Purchase Mar. 20 stes This Units Moquired at Cost 60 unitat 550.20 per unit 205 unitat 655.20 wit 65.160.20 per unit 110 62,20 per wit 240 LC 30 units395.20 per unit 310 unit 2. Com the cougned to ending inventory using Ouro. (c) weighted average, and (c) specific identification. For specie lotition, the Marche consisted of 45 Units from beginning inventory and 175 units from the March 5 purchase the March 29 a comisted of 25 units from the March 1 purchase and sunits from the March 25 purchase Complete this question by entering your answers in the tabe below. Pero Pro Welt Average cinco Comune theme to ending invertory in FIFO. BEEG Gwand Cost of Goods Solo of us Inry Box det leton 8 Required Information Perpetual FIFO: Goods Purchased Cost per units unit Cost of Goods Sold of units Cost por Cost of Goods Sold sold Inventory Balance Cost per Inventory #of units unit Balance 60 S 50 20 - $ 3,012.00 Part 4 tot unit Date March 4 points March 5 March 9 March 18 Mar 25 March 29 0 000 Required information Perpetual Lir: Goods Purchased Cost of Goods Sold #of units sold unit Inventory Balance Cost per Inventory # of units unit Balance 60 @ $50.20 = $ 3,012.00 Cost per Cost per cost of Goods Sold #of Date units unit March 1 March is March 9 March 18 Print March 25 March 20 3 Required in Weighted Average Specific id m3 of 4 Perpetual FIFO Perpetual LIFO Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) 4 Weighted Average Perpetual Goods Purchased Cost per #ol Date March 1 Cost of Goods Sold of units Cost per sold Cost of Goods Sold unit Inventory Balance Cost per # of units Inventory Balance unit 60 @ $ 50.20 $ 3,012.00 March 5 Average March 9 March 13 March 25 March 20 0.00 Perpetual UFO peelliad > Required information ant 3 of 4 4. bolts Weighted Perpetual FIFO Perpetual LIFO Average Specific Id Compute the cost assigned to ending Inventory using specific identification. For specific identification, the March 9 sale consisted of 45 uni and 175 units from the March 5 purchase, the March 29 sale consisted of 25 units from the March 18 purchase and 65 units from the Marc Specific Identification Goods Purchased Cost of Good Sold Inventory. Balance of Date Cout per Wof units Cost per Cost of Goods Cost per unit sold unit Sold #of units unit Inventory Balance March 60 @ $ 50.20 - $ 3,012.00 March Skipeed Marth March 18 March 25 Next > 8 Required information Cost of Goods Sold # of units Cost per Cost of Goods unit Sold # of units Part 4 Inventory Balance Cost per unit Inventory Balance $ 50.20 = $ 3,012.00 Specific Identification: Goods Purchased of Cost per Date units March 1 March sold unit 60 Sed March March 18 Math 25 March 20 . 0.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What are the three steps to changing bad habits? (p. 224)

Answered: 1 week ago