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how would i do this? Calculator Widget Tek's original accountant accepted a position with another firm and left in early March You have been asked
how would i do this?
Calculator Widget Tek's original accountant accepted a position with another firm and left in early March You have been asked to review the subsidiary inventory ledger record for Widget Tek's main product for March Inventory Unit Cost Date Quantity Total Cost Mar 1 850 598.00 583 300 1275 95.00 121,125 Mar 8 63.700 Mar 11 31 850 Mar. 14 31,850 650 325 325 780 260 260 1.600 98.00 98.00 9800 103.00 98.00 98.00 100.00 30 340 Mar 22 Mar 25 25.480 25,480 160,000 Study the inventory record for March and answer the questions that follow 1. Assuming that the product sels for $160 and that 80% of sales are on account determine the gross profit from sales for March 2. Making the same assumptions as in (1) determine the ending inventory cost for March 3. Which inventory method is being used? UFO Step by Step Solution
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