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August 2 1 purchase, and 2 5 0 from the September 5 purchase. ) table [ [ Date , Activities,Units Acquired at Cost,Units Sold
August purchase, and from the September purchase.
tableDateActivities,Units Acquired at Cost,Units Sold at RetailJanBeginning inventory, units $ per unit,FebPurchase, units a $ per unit,MarPurchase, units a $ per unit,MarSales,, units $$ per unAugPurchase, units ia $ per unit,SepPurchase, units $ per unit,SepSales,, units ia $ per unitTotals, units, units
Problem A Perlodic: Alternative cost flows P
Refer to the information in widehat Problem A and assume the periodic inventory system is used.
Required
Compute cost of goods available for sale and the number of units available for sale.
Compute the number of units in ending inventory.
Compute the cost assigned to ending inventory using a FIFO, b LIFO, c weighted average, and d specific identification. Round all amounts to cents.
Compute gross profit earned by the company for each of the four costing methods in part
Analysis Component
The company's manager earns a bonus based on a percentage of gross profit. Which method of inventory costing produces the highest bonus for the manager?
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