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I have trouble with the Specific Identification part of my homework. I need help in filling in that spreadsheet. Problem 5-3A Perpetual: Alternative cost flows
I have trouble with the Specific Identification part of my homework. I need help in filling in that spreadsheet. Problem 5-3A Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and s Units Sold at Retail Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 1e Sales Units Acquired at Cost 540 units @ $40 per unit 320 units @ $36 per unit 100 units @ $24 per unit 650 units@ $85 per unit 120 units @ $45 per unit 52e units @ $41 per unit ces 640 units @ $85 per unit Totals 1,600 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale Number of units available for sale I S. 62.240 1,600 units 2. Compute the number of units in ending inventory Compute the cost assigned to ending inventory using specific identification for specifwentification units sold consist of 540 units from beginning inventary, 220 from the February 10 purchase. 100 from the March 13 purchase, 70 from the August 21 purchase, and 360 from the September 5 purchase. (Round your average cost per unit te 2 decimal places.) Specife Identification Cost of Goods Sold Cost of Goods 540 54000 $ 21,000.00 uary 10 LIIT March 15 AH II TI TH Type here to search
I have trouble with the Specific Identification part of my homework. I need help in filling in that spreadsheet.
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