Question
ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the
ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard.
Mar 01: Purchase, 100 units, 50 each.
Mar 05: Purchase, 400 units, 55 each.
Mar 09: Sales, 420 units, 85 each.
Mar 18: Purchase, 120 units, 60 each.
Mar 25: Purchase, 200 units, 62 each.
Mar 29: Sales, 160 units, 95 each.
1. Compute the cost assigned to ending inventory using FIFO. 2. Compute the cost assigned to ending inventory using LIFO. 3. Compute the cost assigned to ending inventory using Weighted Average.
Required 3 Required 1 Required 2 Compute the cost assigned to ending inventory using FIFO. Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory #of units in ending inventory Cost of Goods Available for Sale |#of units sold Cost of Goods Sold Ending Inventory Cost per unit Cost per unit #of units Cost per unit Date 50.00 $ March 1 100 5,000 $ 0.00 55.00 March 5 22,000 $ 0.00 0 400 March 18 120 $ 60.00 7,200 March 25 200 $ 62.00 12,400 Total 820 $ 46,600 0 O O Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using LIFO Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Available for #of units in of units Cost per Cost per unit Cost per unit Cost of Goods Sold Ending Inventory Date #of units ending inventory unit sold Sale March 1 March 5 March 18 March 25 0 0 Total Required 1 Required 3 Required 2 Compute the cost assigned to ending inventory using Weighted Average. (Round average cost per unit to 2 decimal places.) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale #of units Average in ending Cost per inventory Average Cost per unit Average Cost per Unit # of units sold Cost of Goods Sold Ending Inventory #of units Date unit March 1 March 5 March 18 March 25 TotalStep by Step Solution
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