Johorson Industrial Supplies dubtes industrial equipment. The company's focal year ends on March 31, 2017 One department in the company had an inventory 75 fans that cout $570 each on hard e January Click the icon to view the purchase and sale information) Assume the company user a periodic Inventory system Aso nume that montly purchases of inventory occur on the first day of each month 1. Determine the cost of the department's ending inventory at March 31, 2017 under (a) the weighted average cost method and the FIFO method Assume the company determines cost of goods sold at the end of 2. Prepare the departments income statement for the quarter anded March 31, 2017 under each method described in Requirement Show totals for grous margin and operating income each quarter Requirement 1. Determine the cost of the department's ending inventory of March 31, 2017 under the waited average cost method and the FIFO method. Assume the company dermines cost of goods sold at the end of each quarter (Use the cost per unit method when calculating your answer. Do not round intermediary calculations. Only round the amount you input in the cell to the rest dollar (a) The cost of the departments ending inventory at March 31, 2017 under weighted average is The cost of the departments ending inventory Mwch 31, 2017, under FFON Requirement 2. Prepare the departments income statement for the quarter ended March 31, 2017 under each method described in Requirement 1 Show gross margin and operating income Begin with weighted werage then FIFO (Do not round nemediary calculations. Only found the amount you input in the cell to the nearest dollar. Use a minus sign or parentheses for any operating Losses) Weighed Choose from any it or enter any number in the inputs and then continue to the ned question Johnson Industrial Supplies distributes industrial equipment. The company's fiscal year ends on March 31, 2017 One department in the company had in inventory 75ems that cost $570 each on hand at January 1 2017 Click the icon to view the purchase and sale information.) Assume the company uses a periodic inventory system se assume that monthly purchases of inventory occur on the first day of each month. Required 1. Determine the cost of the departments anding inventory March 31, 2017 under the weighted average cost method and the FIFO method Assume the company determines cost of goods sold at the end of each Quarter 2. Prepare the departments income statement for the quarter ended March 31, 2017, under each method described in Requirement Show totals tot gross margin and operating income Requirement 1. Determine the cost of the department's ending inventory at March 31, 2017 under the wale average cout method and the FIFO method Assume the company determines cost of goods sold at the end of each quarter (Use the cost per unit method when calculating your answer. Do not round mediary calculations. Only round the amount you input in the cell to the nearest dollar) (a) The cost the departments anding inventory at March 31, 2017 under weighted average is ) The cost of the departments ending inventory at March 31, 2017. under FIFO ] Requirement 2. Prepare the departments income statement for the quarter ended March 31, 2017 under each method described in Requirement Show gross margin and operating income Begin with weighted average, then FIFO. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Use a minus sign or parentheses for any operating Choose from any list or enter any number in the input fields and then continue to the next question Johorson Industrial Supplies dubtes industrial equipment. The company's focal year ends on March 31, 2017 One department in the company had an inventory 75 fans that cout $570 each on hard e January Click the icon to view the purchase and sale information) Assume the company user a periodic Inventory system Aso nume that montly purchases of inventory occur on the first day of each month 1. Determine the cost of the department's ending inventory at March 31, 2017 under (a) the weighted average cost method and the FIFO method Assume the company determines cost of goods sold at the end of 2. Prepare the departments income statement for the quarter anded March 31, 2017 under each method described in Requirement Show totals for grous margin and operating income each quarter Requirement 1. Determine the cost of the department's ending inventory of March 31, 2017 under the waited average cost method and the FIFO method. Assume the company dermines cost of goods sold at the end of each quarter (Use the cost per unit method when calculating your answer. Do not round intermediary calculations. Only round the amount you input in the cell to the rest dollar (a) The cost of the departments ending inventory at March 31, 2017 under weighted average is The cost of the departments ending inventory Mwch 31, 2017, under FFON Requirement 2. Prepare the departments income statement for the quarter ended March 31, 2017 under each method described in Requirement 1 Show gross margin and operating income Begin with weighted werage then FIFO (Do not round nemediary calculations. Only found the amount you input in the cell to the nearest dollar. Use a minus sign or parentheses for any operating Losses) Weighed Choose from any it or enter any number in the inputs and then continue to the ned question Johnson Industrial Supplies distributes industrial equipment. The company's fiscal year ends on March 31, 2017 One department in the company had in inventory 75ems that cost $570 each on hand at January 1 2017 Click the icon to view the purchase and sale information.) Assume the company uses a periodic inventory system se assume that monthly purchases of inventory occur on the first day of each month. Required 1. Determine the cost of the departments anding inventory March 31, 2017 under the weighted average cost method and the FIFO method Assume the company determines cost of goods sold at the end of each Quarter 2. Prepare the departments income statement for the quarter ended March 31, 2017, under each method described in Requirement Show totals tot gross margin and operating income Requirement 1. Determine the cost of the department's ending inventory at March 31, 2017 under the wale average cout method and the FIFO method Assume the company determines cost of goods sold at the end of each quarter (Use the cost per unit method when calculating your answer. Do not round mediary calculations. Only round the amount you input in the cell to the nearest dollar) (a) The cost the departments anding inventory at March 31, 2017 under weighted average is ) The cost of the departments ending inventory at March 31, 2017. under FIFO ] Requirement 2. Prepare the departments income statement for the quarter ended March 31, 2017 under each method described in Requirement Show gross margin and operating income Begin with weighted average, then FIFO. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Use a minus sign or parentheses for any operating Choose from any list or enter any number in the input fields and then continue to the next
