Question
Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory . . . . . . . . . . .
Date Activities Units Acquired at Cost Units Sold at Retail Mar.
1 Beginning inventory . . . . . . . . . . . . 100 units @ $50.00 per unit
Mar. 5 Purchase . . . . . . . . . . . . . . . . . . . . . 400 units @ $55.00 per unit
Mar. 9 Sales . . . . . . . . . . . . . . . . . . . . . . . . 420 units @ $85.00 per unit
Mar. 18 Purchase . . . . . . . . . . . . . . . . . . . . . 120 units @ $60.00 per unit
Mar. 25 Purchase . . . . . . . . . . . . . . . . . . . . . 200 units @ $62.00 per unit
Mar. 29 Sales . . . . . . . . . . . . . . . . . . . . . . . . 160 units @ $95.00 per unit
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Totals . . . . . . . . . . . . . . . . . . . . . . . . 820 units 580 units
KC O file-//home/chronos/u-85e4d13e1fsf79c17331679e7acf44938753b65/Downloads/Fundamenta. Qse 290 Chapter 6 Inventories and Cost of Sales Problem 6-2A Periodic: Alternative cost flows P3 Refer to the information in Problem 6-1A and assume the periodic inventory system is used. 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 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round all amounts to cents.) 4. Compute gross profit earned by the company for each of the four costing methods in part 3 Problem 6-34 KC O file-//home/chronos/u-85e4d13e1fsf79c17331679e7acf44938753b65/Downloads/Fundamenta. Qse 290 Chapter 6 Inventories and Cost of Sales Problem 6-2A Periodic: Alternative cost flows P3 Refer to the information in Problem 6-1A and assume the periodic inventory system is used. 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 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round all amounts to cents.) 4. Compute gross profit earned by the company for each of the four costing methods in part 3 Problem 6-34
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Front Office Operations And Auditing Workbook
Authors: Patrick J. Moreo, Gail Sammons, Jeff Beck
2nd Edition
0130324930, 978-0130324931
