O Jonesey Auto Supplies made the following purchases and sales of windshield wipen during March Click the icon to view the purchases and sales) Bequired Requirement 1. Assuming Jonesey Auto Supplies uses the perpetual inventory system, calculate the cost of goods solduring March using the moving weighted average cost method and (bFIFO Begin with (a) the moving weighted average-cost perpetual inventory record (Round unit costs to the nearest cent. Round total costs to the nearest whole dollar. When calculating inventory on hand use the chique as outlined in the text. Rounding issues will occur i alternate methods are used) Purchases Total Cast of Goods Sold Une Total QTY Cost Cast Inventory on Hand Total QTY Cost Cost 12 24 200 Date OTY Cost Mar 1 Mar 3 72 1672 52 33 27 M 14 Mar. 20 26 29 Enter any number in the edit hields and then continue to the next question 11:33 AM ENG 02 Joney Auto Supplies made the following purchases and sales of windshield wipers during March Click the icon to view the purchases and sales.) Required Requirement 1. Assuming Jonesey Auto Supplies uses the perpetual inventory system, calculate the cost of goods sold during March using (a) the moving weighted average cost method and (b) FIFO Begin with (a) the moving weighted average cost perpetual Inventory record. (Round unit costs to the nearest cent. Round to the whole dollar. When calculatin..anhang, use the technique as outlined in the text. Rounding issues will occur i alternate methods are used) Transactions Purchases Unit Cost Total Cost Cost of Goods Sold Total QTY Cost Cost Date OTY Inventory on Hand Unit Total OTY Cost Cost 12 24 Un Sale Price Mar Mar 3 72 26 1872 Units Unit Cost 125 24 72 26 52 27 28 102 20 127 $ 1 Beginning 3 Purchase 10 Sale 14 Purchase 20 Purchase 26 Sale 33 Mar 10 52 33 Mar 14 Max 20 27 102 28 29 33 Enter any number in the edit fields and then continue to the next question Print Done . E EN 11:34 AM 2020023 Jonesey Auto Supplies made the following purchases and sales of windshield wipers during March Click the icon to view the purchases and sales.) Required Now completo (b) the FIFO perpetual inventory record. (Enter the oldest inventory tuyor first) Transactions Purchases QTY Unit Cost Tot Cost Cost of Goods Sold QTY Unit Cost Tot Cost Inventory on Hand QTY Unit Cost Tot Cost Mar 1 Un Sale Price Mar Units Un Cost 125 24 72 26 52 Mar 3 5 33 1 Beginning 3 Purchase 10 Sale 14 Purchase 20 Purchase 26 Sale Mar 10 27 102 127 28 29 Mar 14 Pa Done Enter any number in the edit Delds and then continue to the next Question ENG Jonesey Auto Supplies made the following purchases and sales of windshield wipers during March Click the icon to view the purchases and sales.) Resuled Requirement 2. Now assame Jonnay Auto Supplies is the periodic Inventory wytomCakultate the cost of goods sold during March using (a) the weighted average cost method and B.) To (Round interim calculations to two decimal places. Round your finalaswer to the nearest whole dollar) (a) The cost of goods sold under the weighted average cost method is - X Transactions (h) The cost of goods sold under the FIFO method is (c) Calculate gross margin for both methods Which is higher? Unit Unt Com Un Sale Price The gross margin under the weighted average-cout method is 1 Beginning 125 24 3 Purchase 72 26 The gross margin under the FIFO method is 10 Sale 52 33 FIFO provides a gross margin because the inventory costs were during this period 14 Purchase 25 20 Purchase 102 29 Requirement 3. What do you notice when you compare the FIFO results from requirement and requirement? 26 SL 127 When using FIFO, the cost of goods sold and ending inventory values under the periodic Inventory system are Print Enter any number in the edit fields and then continue to the next question $ 27 33 Done MUSE