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.

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

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 1 Required 2 Required 3 Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Cost of Goods Sold Date Goods Purchased # of Cost per units unit 100 @ $ 50.00 # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per Inventory Balance unit $ 50.00 = $ 5,000.00 / March 1 100 @ March 5 March 9 March 18 March 25 March 29 Totals Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased # of Cost per unit units 100 @ $ 50.00 Date Cost of Goods Sold Cost per unit Cost of Goods Sold # of units sold # of units 100 @ Inventory Balance Cost per unit Inventory Balance $ 50.00 = $ 5,000.00 March 1 March 5 March 9 March 18 IT March 25 March 29 Totals Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using Weighted Average. (Round your average cost per unit to 2 decimal places.) Cost of Goods Sold Inventory Balance Weighted Average Perpetual: Goods Purchased # of units March 1 100 @ $ 50.00 Date Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units 100 @ Cost per unit Inventory Balance $ 50.00 = $ 5,000.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals Required 2 Required 3 >