I just need the blanks answered, please.

Widget Tek Inc.'s original accountant accepted a position with another firm and left in early March. You have been ask Inventory Date Quantity Unit Cost Total Cost Mar. 1 850 $98 $83,300 1,275 $95 $121,125 Mar. 8 650 $98 $63,700 Mar. 11 325 $98 $31,850 Mar. 14 325 $98 $31,850 780 $103 $80,340 Mar. 22 260 $98 $25,480 Mar. 25 260 $98 $25,480 2,000 $100 $200,000 Study the inventory record for March and answer the questions that follow. 1. Assuming that the product sells for $165 and that 80% of sales are on account, determine the gross profit from sales 2. Making the same assumptions as in (1), determine the ending inventory cost for March. $ 198,937.5 3. Which inventory method is being used? Study the inventory record for March and answer the questions that follow. 1. Assuming that the product sells for $165 and that 80% of sales are on account, determine the gross profit from sales for March 312,550 2. Making the same assumptions as in (1), determine the ending inventory cost for March 3. Which inventory method is being used? 198,937,5 Final Questions In conversation with the president of Widget Tek Inc., you have learned that much of the company's inventory consists of older Widget Tek Inc. models. These older models sell for less than company believes that the net realizable value of the older inventory is less than its value in the subsidiary inventory ledger Considering all of the information you have about Widget Tek Inc., answer the following questions 1. To better account for the older inventory, the president of Widget Tek Inc. wonders whether the inventory should be valued using a different method. Do you agree, and why or why not? because will 2. Will a change in inventory method increase a company's net income on its financial statements? 3. When is inventory not valued at cost? All work saved B o BI C DALL Widget Tek Inc.'s original accountant accepted a position with another firm and left in early March. You have been ask Inventory Date Quantity Unit Cost Total Cost Mar. 1 850 $98 $83,300 1,275 $95 $121,125 Mar. 8 650 $98 $63,700 Mar. 11 325 $98 $31,850 Mar. 14 325 $98 $31,850 780 $103 $80,340 Mar. 22 260 $98 $25,480 Mar. 25 260 $98 $25,480 2,000 $100 $200,000 Study the inventory record for March and answer the questions that follow. 1. Assuming that the product sells for $165 and that 80% of sales are on account, determine the gross profit from sales 2. Making the same assumptions as in (1), determine the ending inventory cost for March. $ 198,937.5 3. Which inventory method is being used? Study the inventory record for March and answer the questions that follow. 1. Assuming that the product sells for $165 and that 80% of sales are on account, determine the gross profit from sales for March 312,550 2. Making the same assumptions as in (1), determine the ending inventory cost for March 3. Which inventory method is being used? 198,937,5 Final Questions In conversation with the president of Widget Tek Inc., you have learned that much of the company's inventory consists of older Widget Tek Inc. models. These older models sell for less than company believes that the net realizable value of the older inventory is less than its value in the subsidiary inventory ledger Considering all of the information you have about Widget Tek Inc., answer the following questions 1. To better account for the older inventory, the president of Widget Tek Inc. wonders whether the inventory should be valued using a different method. Do you agree, and why or why not? because will 2. Will a change in inventory method increase a company's net income on its financial statements? 3. When is inventory not valued at cost? All work saved B o BI C DALL