Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows: = Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 110 units @ $ 6.30 80 units @ $14.80 230 units @ $ 5.60 130 units @ $14.80 480 units @ $ 5.40 435 units @ $ 5.30 530 units @ $14.80 = $ 693.00 1,184.00 1,288.00 1,924.00 2,592.00 2,305.50 7,844.00 = = = Assume that Car Armour specifically sold the following units: Jan. 10: Mar. 15: 80 units from beginning inventory 20 units from beginning inventory, and 110 units from the March 7 purchase 95 units from the July 28 purchase, and 435 units from the October 3 purchase Oct. 5: Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.) Ending inventory Cost of goods sold Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2020. Complete the inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) Purchases/Transportation-In/ (Purchase Returns/Discounts) Cost of Goods Sold/(Returns to Inventory) Balance in Inventory Date Units Cost/Unit Total $ Units Cost/Unit Total $ Units Avg Cost/Unit Total $ Mar. 1 68 $ 95.00 $ 6,460.00 Brought Forward 43 $ 2 96.00 3 30 4 (10) 7 57 17 48 96.00 28 51 Totals Goods Available for Sale Goods Sold Ending Inventory Note: March 4 reflects a return made by a customer of incorrect items shipped on March 3; these items were returned to inventory. Analysis Component: The gross profit realized on the sale of Product W506 during February 2020 was 35.34%. The selling price was $156 during both February and March. Calculate the gross profit ratio for Product W506 for March 2020 and determine whether the change is favorable or unfavorable from February. (Round your intermediate calculations and final answer to 2 decimal places.) Gross profit ratio %
