Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

21 15 points print 17 31 *+0b lea u 18 19 20 22 23 Tableau DA 5-2: Exercise, Perpetual: Inventory costing methods LO P1

image text in transcribed

image text in transcribed

21 15 points print 17 31 *+0b lea u 18 19 20 22 23 Tableau DA 5-2: Exercise, Perpetual: Inventory costing methods LO P1 ATV Co. began operations oearch 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. Monday Sunday References Legend No Purchases or Sales Purchases sales Tuesday 5 12 15 S March Wednesday 6 13 Thursday 7 14 Friday 1 8 15 Saturday 2 9 16 3 10 ; 29 Totals 4 11 1. Compute the cost assigned to ending inventory using FIFO. 2. Compute the cost assigned to ending inventory using LIFO. 3. Compute the cost assigned to ending inventory using Weighted Average. Perpetual FIFO: March 1 March 5 March 9 March 18 March 25 March 29 Totals Next Goods Purchased of Goods Soit. Cost per Cost of Goods Sold unit n Balance # of Cost per # of units 100 @ $ 50.00 # of units 100 @ Cost per Inventory Balance $ 50.00 - 5,000.00 print References Required I Required 2 Reqjired 3 Compute the cost assigned to ending inventory using Weighted Average. (Round Weighted Average Perpetual: your average cost per unit to 2 decimal places.) S socc = s Goods Pic # of Cost per unit # of units sold 100 @ $ 50.00 March 1 March 5 Average March 9 March 18 Average March 25 Cost of Goods Sold Cost per unit Cost of Goods Sold ' # of units 100 @ lance Cost per unit Inventory Balan S 50.00 - 5,000.00 March 29 Totals < Required 2 Next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Federal Taxation 2016 Comprehensive

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

29th Edition

134104374, 978-0134104379

Students also viewed these Accounting questions

Question

Discuss the elements of the promotional mix? LO.1

Answered: 1 week ago