Kiese, Intermediate Accounting, 17e Help System incuncements CALCULATOR PRENTER VERSION 4 BACK NEXT Cost Total Units per un Cost Beginning invertory, anuary 1 10,950 34.40 348,180 Purchase, anuary 10 4.50 40,275 Purchase, anuary 30 6,950 4.50 31,970 Purchase, February 11 4.79 Purchase, March 17 11.950 57,360 Ruth Lewis, the president of the corporation cannot understand how two Gerent gross marins can be computed from the same set of data. As the vice president of finance, you have explained to Ms. Lewis that the two schedules are based on different assumption concerning the row of inventory costs, 18. FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this sequence of controw stumption Prepare two separate schedules computing cost of goods old and supporting schedules showing the composition of the ending inventory under both cost towuptions waterway Corporation Schedules el cost of Goods Sold For the First Quarter Ended March 31, 2020 Schedule 1 Schedule Schedules Computing Ending venter Click you would like to show work for this question on how LINK TO TEXT Question Attempt of 2 used SAVE FOR LATER SUBMIT ANSWER MacBook Pro Schedule 2 159,200 149,550 22 9,650 The computation of cost of goods sold in each schedule is based on the following data. ts by ve Beginning inventory, January 1 Purchase, January 10 Purchase, January 30 Purchase, February 11 Purchase, March 17 Units 10,950 8,950 6,950 9,950 11,950 Cost per Unit $4.40 4.50 4.60 4.70 4.80 Total Cost $48,180 40,275 31,970 46,765 57,360 Ruth Lewis, the president of the corporation, cannot understand how two different gross margins can be computed from the same set of data. As the vice presic assumptions concerning the flow of inventory costs, i.e., FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this sequence of cost flow assumpt Prepare two separate schedules computing cost of goods sold and supporting schedules showing the composition of the ending inventory under both cost flow a Waterway Corporation Schedules of Cost of Goods Sold For the First Quarter Ended March 31, 2020 Schedule 1 First-In, First-out Schedule 2 Last-in, First-out v Ending Inventory Purchases Beginning inventory Cost of Goods Available for Sale Cost of Goods Sold Schedules Computing Ending Inventory First-In, First-out (Schedule 1) at Last-in, First-out (Schedule 2) at at data, results by jective Beginning inventory, January 1 Purchase, January 10 Purchase, January 30 Purchase, February 11 Purchase, March 17 Units 10,950 8,950 6,950 9,950 11,950 Cost per Unit $4,40 4.50 4.60 4.70 4.80 Total Cost $48,180 40,275 31,970 46,765 57,360 Ruth Lewis, the president of the corporation, cannot understand how two different gross margins can be computed from the same set of data. As the vice pre assumptions concerning the flow of Inventory costs, I.e., FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this sequence of cost flow assum Prepare two separate schedules computing cost of goods sold and supporting schedules showing the composition of the ending inventory under both cost flov Waterway Corporation Schedules of Cost of Goods Sold For the First Quarter Ended March 31, 2020 Schedule 1 Schedule 2 First-in, First-out Last-In, First-out Cost of Goods Available for Sale Cost of Goods Sold Beginning Inventory Ending Inventory Purchases Schedules Computing Ending Inventory First-In, First-out (Schedule 1) at at Last-in, First-out (Schedule 2) at $ at MacBook Pro Kiese, Intermediate Accounting, 17e Help System incuncements CALCULATOR PRENTER VERSION 4 BACK NEXT Cost Total Units per un Cost Beginning invertory, anuary 1 10,950 34.40 348,180 Purchase, anuary 10 4.50 40,275 Purchase, anuary 30 6,950 4.50 31,970 Purchase, February 11 4.79 Purchase, March 17 11.950 57,360 Ruth Lewis, the president of the corporation cannot understand how two Gerent gross marins can be computed from the same set of data. As the vice president of finance, you have explained to Ms. Lewis that the two schedules are based on different assumption concerning the row of inventory costs, 18. FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this sequence of controw stumption Prepare two separate schedules computing cost of goods old and supporting schedules showing the composition of the ending inventory under both cost towuptions waterway Corporation Schedules el cost of Goods Sold For the First Quarter Ended March 31, 2020 Schedule 1 Schedule Schedules Computing Ending venter Click you would like to show work for this question on how LINK TO TEXT Question Attempt of 2 used SAVE FOR LATER SUBMIT ANSWER MacBook Pro Schedule 2 159,200 149,550 22 9,650 The computation of cost of goods sold in each schedule is based on the following data. ts by ve Beginning inventory, January 1 Purchase, January 10 Purchase, January 30 Purchase, February 11 Purchase, March 17 Units 10,950 8,950 6,950 9,950 11,950 Cost per Unit $4.40 4.50 4.60 4.70 4.80 Total Cost $48,180 40,275 31,970 46,765 57,360 Ruth Lewis, the president of the corporation, cannot understand how two different gross margins can be computed from the same set of data. As the vice presic assumptions concerning the flow of inventory costs, i.e., FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this sequence of cost flow assumpt Prepare two separate schedules computing cost of goods sold and supporting schedules showing the composition of the ending inventory under both cost flow a Waterway Corporation Schedules of Cost of Goods Sold For the First Quarter Ended March 31, 2020 Schedule 1 First-In, First-out Schedule 2 Last-in, First-out v Ending Inventory Purchases Beginning inventory Cost of Goods Available for Sale Cost of Goods Sold Schedules Computing Ending Inventory First-In, First-out (Schedule 1) at Last-in, First-out (Schedule 2) at at data, results by jective Beginning inventory, January 1 Purchase, January 10 Purchase, January 30 Purchase, February 11 Purchase, March 17 Units 10,950 8,950 6,950 9,950 11,950 Cost per Unit $4,40 4.50 4.60 4.70 4.80 Total Cost $48,180 40,275 31,970 46,765 57,360 Ruth Lewis, the president of the corporation, cannot understand how two different gross margins can be computed from the same set of data. As the vice pre assumptions concerning the flow of Inventory costs, I.e., FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this sequence of cost flow assum Prepare two separate schedules computing cost of goods sold and supporting schedules showing the composition of the ending inventory under both cost flov Waterway Corporation Schedules of Cost of Goods Sold For the First Quarter Ended March 31, 2020 Schedule 1 Schedule 2 First-in, First-out Last-In, First-out Cost of Goods Available for Sale Cost of Goods Sold Beginning Inventory Ending Inventory Purchases Schedules Computing Ending Inventory First-In, First-out (Schedule 1) at at Last-in, First-out (Schedule 2) at $ at MacBook Pro