MULTIPLE CHOICL Dec 1 Beginning inventory 70 units @ $14 9 Purchases 30 units @ $16 17 Sales 25 units 22 Purchases 15 units @ $18 27 Sales 40 units Q Zoom Using the information shown in the table, calculate ENDING INVENTORY on (a) a FIFO basis. Assume a PERPETUAL inventory system. 820 910 758 1030 972 MULTIPLE CHOICE Dec. 1 Beginning inventory 70 units @ $14 9 Purchases 30 units @ $16 17 Sales 25 units 22 Purchases 15 units @ $18 27 Sales 40 units Q Zoom Use the information shown in the table, calculate ENDING INVENTORY on (a) an AVERAGE- COST basis. Assume a PERPETUAL inventory system. 972 1030 1030 758 752 820 Jan. 1 10 Feb. 13 Mar. 5 Beginning inventory 5,000 cases @ $4.00 Purchases 3,000 cases @ $5.00 Purchases 8,000 cases @ $4.50 Purchases 2,000 cases @ $5.00 Q Zoom During the first quarter of 2017, Androsia Company sold 12,000 cases of Product T for $120,000. Facts related to its beginning inventory and purchases are are shown in the attached table. Assume the PERIODIC inventory system is used. REQUIRED: For the quarter ended March 31, 2017, compute the GROSS MARGIN under the following costing method: (a) AVERAGE-COST $27,000 $56,000 $53,000 $54,000 E $66,000 MULTIPLE CHOICE Jan. 1 10 Feb 13 Mar. 5 Beginning inventory 5,000 cases @ $4.00 Purchases 3,000 cases @ $5.00 Purchases 8,000 cases @ $4.50 Purchases 2,000 cases @ $5.00 Q Zoom During the first quarter of 2017, Androsia Company sold 12,000 cases of Product T for $120,000. Facts related to its beginning inventory and purchases are are shown in the attached table. Assume the PERIODIC inventory system is used. REQUIRED: For the quarter ended March 31, 2017, compute the GROSS MARGIN under the following costing method: (a) FIFO $67,000 B) $66,000 $28,000 $53,000 $54,000