AP$7-5$A $($Calculation of ending inventory and cost of goods sold$$periodic system$)$

Required

If your instructor has assigned the Appendix to this chaptAP$7-4$A $($Calculation of ending inventory and cost of goods sold$-$perpetual system$)$ At the beginning of its

operations in March $2024,$ Mastiff Supplies Ltd$.$ began with $7,500$ units of inventory that it purchased at a cost of $$7\mathrm{.}00$ each.

The company's purchases during March were as follows:

Mastiff Supplies uses a perpetual inventory system.

Required

a$.$ Calculate the cost of goods sold for March using the weighted$-$average cost formula. Round per unit cost to four decimal

places.

b$.$ Calculate the cost of goods sold for March using the first$-$in$,$ first$-$out cost formula.

c$.$ Which of the two inventory cost formulas results in the greater gross margin for March?

d$.$ Which of the two inventory cost formulas results in the larger inventory balance at the end of March?

e$.$ Compare your answers in parts $($c$)$ and $($d$)$ above and comment on the relationship between these items.

$($P$7-5$A $($Calculation of ending inventory and cost of goods sold$-$periodic system$)$

Required

If your instructor has assigned the Appendix to this chapter, redo Problem AP$7-4$A assuming that the company uses a periodic

inventory system. Round weighted$-$average per unit cost to two decimal places.er$,$ redo Problem AP$7-4$A assuming that the company uses a periodic inventory system. Round weighted$-$average per unit cost to two decimal places.