Assignment

Part $1$ of $4$

Points: $0$ or $1$

Buntzell Industrial Supplies distributes industrial equipment. The company's fiscal year ends on March $31,2020.$ One department in the company had $50$ industrial sinks that cost $$540$ each on hand at January $1,202$ system. Also assume that monthly purchases of inventary occur on the first day of each momth.

$($Click the icon to view the purchase and sale information.$)$

Required

Determine the cost of the department's ending inventory at March $31,2020,$ under $($a$)$ moving$-$weighted$-$average cost and $($b$)$ FIFO cost.

Prepare the department's multi$-$step income statement for the quarter ended March $31,2020,$ under each method described in requirement $1.$

Requirement $1.$ Determine the cost of the department's ending inventory al March $31,2020,$ under $($a$)$ moving$-$weighted$-$average cost and $($b$)$ FIFO cost.

Prepare the perpetual inventory record under $($a$)$ moving$-$waighted$-$average. $($Round average cost per unit to the nearest cent. Round all other calculations to the nearest whole dollar. When calculating invet Rounding issues will occur if alternate methods are used.$)$

$\backslash$table$[[($a$)$ Moving$-$Weighted$-$Average$],[$Date$,$Purchases,Cost of Goods Sold,Inventory on Hand$],[$QTY$,$Unit Cost,Total Cost,OTY,Unit Cost,Totai Cost,QTY$,$Unit Cost,Total Cost$],[$Jan $1,,,,,,,,,$