Grayson Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Grayson Company uses the perpetual inventory system.

				Purchases						Sales
				Units			Unit Cost			Units			Selling Price/Unit
3/1		Beginning inventory		100			$55
3/3		Purchase		60			$60
3/4		Sales								60				$120
3/10		Purchase		200			$65
3/16		Sales								90				$130
3/19		Sales								70				$130
3/25		Sales								50				$130
3/30		Purchase		40			$75

Using the FIFO assumption, calculate the amount charged to cost of goods sold for March.

Cost of goods sold

$

Using the FIFO assumption, calculate the value of ending inventory for March.

Ending Inventory

$enter Ending Inventory in dollars

Using the moving average cost method, calculate the amount assigned to the inventory on hand on March 31. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answer to 2 decimal places, e.g. 2,520.56.)

Amount assigned to the inventory

enter Amount assigned to the inventory in dollars

Using the LIFO assumption, calculate the amount assigned to the inventory on hand on March 31.

Amount assigned to the inventory

$enter Amount assigned to the inventory in dollars

Using the LIFO assumption, calculate the amount charged to cost of goods sold for March.

Cost of goods sold

$enter Cost of goods sold in dollars

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