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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
- 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. For specific identification, units sold consist of 685 units from beginning inventory, 385 from the February 10 purchase, 285 from the March 13 purchase, 135 from the August 21 purchase, and 420 from the September 5 purchase. Note: Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.
- Compute gross profit earned by the company for each of the four costing methods. ( FIFO,LIFO, Weighted Average, Specific identification) Show the number of Sales, Less: Cost of goods sold, gross profit. Note: Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.
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