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AP 7 - 5 A ( Calculation of ending inventory and cost of goods sold periodic system ) Required If your instructor has assigned the
APA Calculation of ending inventory and cost of goods soldperiodic system
Required
If your instructor has assigned the Appendix to this chaptAPA Calculation of ending inventory and cost of goods soldperpetual system At the beginning of its
operations in March Mastiff Supplies Ltd began with units of inventory that it purchased at a cost of $ 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 weightedaverage cost formula. Round per unit cost to four decimal
places.
b Calculate the cost of goods sold for March using the firstin firstout 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.
PA Calculation of ending inventory and cost of goods soldperiodic system
Required
If your instructor has assigned the Appendix to this chapter, redo Problem APA assuming that the company uses a periodic
inventory system. Round weightedaverage per unit cost to two decimal places.er redo Problem APA assuming that the company uses a periodic inventory system. Round weightedaverage per unit cost to two decimal places.
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