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Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units
Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 50 units @ $50/unit Mar. 5 Purchase 200 units @ $55/unit Mar. 9 Sales 210 units @ $85/unit Mar. 18 Purchase 60 units @ $60/unit Mar. 25 Purchase 100 units @ $62/unit Mar. 29 Sales 80 units @ $95/unit Totals 410 units 290 units Compute gross profit earned by the company for each of the four costing methods FIFO_____ LIFO______ Weighted average_______ Specific identification________
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