CAN AN ACCOUNTANT HELP ME PLEASE I WILL APPRECIATE IT ALOT

Date Jan. Feb. Mar. Transaction Number of Units Per Unit Total 1 Inventory 2,500 $60.00 $150,000 10 Purchase 7,500 68.00 510,000 28 Sale 3,750 120.00 450,000 30 Sale 1,250 120.00 150,000 5 Sale 500 120.00 60,000 10 Purchase 18,000 70.00 1,260,000 16 Sale 9,000 125.00 1,125,000 28 Sale 8,500 125.00 1,062,500 5 Purchase 15,000 71.60 1,074,000 14 Sale 10,000 125.00 1,250,000 25 Purchase 2,500 72.00 180,000 30 Sale 8,750 125.00 1,093,750 Date Jan. Feb. Mar. Transaction Number of Units Per Unit Total 1 Inventory 2,500 $60.00 $150,000 10 Purchase 7,500 68.00 510,000 28 Sale 3,750 120.00 450,000 30 Sale 1,250 120.00 150,000 5 Sale 500 120.00 60,000 10 Purchase 18,000 70.00 1,260,000 16 Sale 9,000 125.00 1,125,000 28 Sale 8,500 125.00 1,062,500 5 Purchase 15,000 71.60 1,074,000 14 Sale 10,000 125.00 1,250,000 25 Purchase 2,500 72.00 180,000 30 Sale 8,750 125.00 1,093,750 Date Jan. 1 Transaction Number of Units Per Unit Total Inventory 2,500 $60.00 $150,000 Instructions 1. Determine the inventory on March 31, 2016, and the cost of goods sold for the threemonth period, using the first-in, first-out method The method of inventory costing based on the assumption that the costs of merchandise sold should be charged against revenue in the order in which the costs were incurred. and the periodic inventory system. 2. Determine the inventory on March 31, 2016, and the cost of goods sold for the threemonth period, using the last-in, first-out method The method of inventory costing based on the assumption that the cost of merchandise sold is the cost of the most recent purchases. and the periodic inventory system. 3. Determine the inventory on March 31, 2016, and the cost of goods sold for the threemonth period, using the weighted average cost method The method of inventory costing in which a weighted average unit cost for each item is computed each time a purchase is made. and the periodic inventory system. Round the weighted average unit cost to the nearest cent. 4. Compare the gross profit and the March 31, 2016, inventories. none X FIFO 1. Determine the inventory on March 31, 2016, and the cost of goods sold for the three-month period, using the firstin, first-out method The method of inventory costing based on the assumption that the costs of merchandise sold should be charged against revenue in the order in which the costs were incurred. and the periodic inventory system. Merchandise inventory, March 31, 2016 Cost of merchandise sold $ 2. Determine the inventory on March 31, 2016, and the cost of goods sold for the three-month period, using the lastin, first-out method The method of inventory costing based on the assumption that the cost of merchandise sold is the cost of the most recent purchases. and the periodic inventory system. Merchandise inventory, March 31, 2016 $ Cost of merchandise sold . Determine the inventory on March 31, 2016, and the cost of goods sold for the three-month period, using the weighted average cost method The method of inventory costing in which a weighted average unit cost for each item is computed each time a purchase is made. and the periodic inventory system. Round the weighted average unit cost to the nearest cent. Merchandise inventory, March 31, 2016 $ Cost of merchandise sold 4. Compare the gross profit and the March 31, 2016, inventories, using the following column headings. Question not attempted. 1 FIFO LIFO Weighted Average 2 Sales 3 Cost of merchandise sold 4 Gross profit 5 6 Inventory, March 31, 2016 Solution 1 2 Sales FIFO LIFO Weighted Average 3 Cost of merchandise sold 4 Gross profit 5 6 Inventory, March 31, 2016 Points