Moving Average Costing
Acquisitions			Sales at cost			Running closing Inv
# Units	$/Unit	Extended$	# Units	$/Unit	Extended$	# Units	$/Unit	Extended$

Assume ABC uses moving average perpetual. Calculate the cost of ending inventory and cost of the goods sold using the 9 column schedule.

Assume ABC uses FIFO perpetual. Calculate the cost of ending inventory and cost of goods sold using either "quick FIFO" or the 9 column schedule

Input the results of parts (b) and (c) above into a partial Income Statement (to Gross Profit)

a.Calculate the GP% for each method

b.Calculate the MU% for each method

Which method gives the highest gross profit

7 ABC Golf Balls had a beginning inventory balance on July 1 of 500 units at a cost of $3 each. During the month, the following inventory transactions took place: 8. 9 Purchases Sales 10 Date Units Cost per unit Date Units Price per unit 11 July July 2 300 3.1 5.00 12 10 1,300 11 1,000 5.00 13 13 700 28 400 5.5 3.75 14 27 600