Answered step by step
Verified Expert Solution
Question
1 Approved Answer
asap please JUVELAIL SUD Check my world transactions for March. Units Sold at Retail Date March 1 March 5 March 9 March 18 March 25
asap please
JUVELAIL SUD Check my world transactions for March. Units Sold at Retail Date March 1 March 5 March 9 March 18 March 25 March 29 Units Acquired at Cost 180 units @ $52.60 per unit 265 units @ $57.60 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales 340 units @ $87.60 per unit 125 units 230 units @ $62.60 per unit @ $64.60 per unit Totals 800 units 210 units @ $97.60 per unit 550 units Problem 5-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 105 units from beginning inventory, 235 units from the March 5 purchase, 85 units from the March 18 purchase, and 125 units from the March 25 purchase. Aveiaye Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Date Cost per # of units Cost per # of units sold Cost per unit Cost of Goods Sold unit Inventory Balance Inventory # of units unit Balance 180 at $ 52.60 = $ 9,468.00 March 1 March 5 Total March 5 March 9 Total March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 cop March 25 Total March 25 March 29 Total March 29 Totals $ 0.00 Fermetrar fi Perpetual LIFO >Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started