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Can anyone help me to solve the question3,4,5? Thank you so much Marlow Company uses a perpetual inventory system. During the year, it entered into
Can anyone help me to solve the question3,4,5? Thank you so much
Marlow Company uses a perpetual inventory system. During the year, it entered into the following purchases and sales transactions. Required: 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Compute the cost assigned to ending inventory using (a) FIFO, (b) specific identification-units sold consist of 700 units from beginning inventory and 300 units from the March 13 purchase, and (c) weighted average cost. (Round per unit to 2 decimals, but inventory balances to the dollar.) Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using specific identification-units sold consist of 700 units from beginning inventory and 300 units from the March 13 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) specific identification-units sold consist of 700 units from beginning inventory and 300 units from the March 13 purchase, and (c) weighted average cost. (Round per unit to 2 decimals, but inventory balances to the dollar.) Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using weighted average cost. 4. Compute gross profit earned by the company for each of the three costing methods in part 3. 5. If the company's manager earns a bonus based on a percent of gross profit, which method of inventory costing will the manager likely prefer? Weighted average method FIFO Specific IdentificationStep by Step Solution
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