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ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown below March
ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown below
March 1st: Purchase 100 units $50 each
March 5th: Purchase 400 units $55 each
March 9th: Sales 420 units $85 each
March 18th: Purchase 120 units $60 each
March 25th: Purchase 200 units $62 each
March 29th: Sales 160 units $95 each
Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Inventory Balance Cost of Goods Sold Goods Purchased Cost per unit Cost per unit Cost per unit #of # of units Inventory Balance Date Cost of Goods Sold #of units units sold 100 March 1 100 $ 50.00 50.00 5,000.00 = March 5 March 9 March 18 March 25 March 29 Totals 0.00 0,00 Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance #of units sold # of units Cost per unit Cost per unit Inventory Balance Date Cost per unit Cost of Goods Sold #of units $ 5,000.00 March 1 100 $ 50.00 100 50.00 March 5 March 9 March 18 March 25 March 29 Totals 0.00 Compute the cost assigned to ending inventory using Weighted Average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of units #of units sold Cost per unit # of units Inventory Balance Date Cost per unit Cost of Goods Sold Cost per unit 100@ 100@ March 1 S 50.00 50.00 5,000.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals S 0.00
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