I just only need the answer of 6.5 B I just need it by today

pect the cost of goods sold and ending inventory amounts to be higher or lower than these amounts? Taking It Further If Swan Valley Company wishes to change from FIFO to the weighted average cost formula, what factors must it consider before making this change? P6.5B (LO 2, 3) AP Bennett Basketball sells a variety of basketballs and accessories. Information follows for Bennett Basketball's purchases and sales during February and March for Up-Snap, one of its top brands of basketballs: Purchases Sales Units Unit Cost Units Unit Price Feb. 7 $32 50 $20 50 30 Mar. 10 19 Bennett uses a perpetual inventory system. On February 1, Bennett had 36 units on hand at a cost of $21 each. All purchases and sales during February and March were on account Instructions a. Determine the cost of goods sold and ending inventory under a perpetual inventory system using (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places.) b. Calculate gross profit using (1) FIFO and (2) weighted average. Taking It Further What factors should Bennett's owner consider when choosing a cost formula? P6.6B (LO 2, 5) AP You are given the following information for transactions by Schwinghamer Co. All transactions are settled in cash. Schwinghamer uses a perpetual inventory system and the FIFO cost formula Unit Cost/ Date Transaction Units Selling Price Oct. 1 Beginning inventory $14 Purchase Sale (140) Purchase Sale (70) Purchase S2 16 Instructions a. Prepare the required journal entries for the month of October for Schwinghamer Co. b. Determine the ending inventory for Schwinghamer. e. On October 31, Schwinghamer determines that the product has a net realizable value of Sto per unit What amount should the inventory be valued at on the October 31 balance sheet7 Prepare any required journal entries. d. Considering your answer from part (C). what amount will be reported on the October income state ment for cost of goods sold? Taking It Further What If Schwinghamer had used weighted average instead of FIFO? How would this affect the October 31 ending inventory on the balance sheet compared with FIFOZ P6.70 (LO 1, 4) AN The records of Khanna Company show the following amounts in its December 31