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oods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Date March 1

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oods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 190 units @ $52.88 per unit 270 units @ $57.Ba per unit 130 units @ $62.88 per unit 248 units @ $64.88 per unit 350 units @ $87.80 per unit 830 units 220 units $97.80 per unit 570 units 3. Compute the cost assigned to ending inventory using (a) FIFO (6) LIFO, (d) weighted average, and (c) specific identification. For specific identification units sold include 110 units from beginning inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold #of units Cost per # of units sold Cost per unit Cost of Goods Sold unit Inventory Balance Cost per Inventory # of units unit Balance 190 at $ 52.80 = $ 10,032.00 March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 0.00 Totals Perpetual LIFO > Perpetual FIFO Perpetual LIFO Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold # of units sold Cost of Goods Sold unit Goods Purchased Cost per # of units unit Date Cost per Inventory Balance # of units Cost per Inventory unit Balance 190 at $ 52.80 = $ 10,032.00 March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 0.00 Totals Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Welghted Average Perpetual Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per of units Cost per of units unit sold Cost per unit Cost of Goods Sold of units Inventory balance unit March 1 190 at 52.80 - $ 10,032.00 March 5 Average March 5 March 9 March 18 Average March 18 March 25 + Average March 25 March 29 Totals $ 0.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific ld Compute the cast assigned to ending inventory using specific identification. For specific identification, units sold include 110 units from beginning inventory. 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase. Date Cost per Cost per Cooper March 1 March 5 March 18 March 25 Total Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods of units of units Available for unit of units Cost of sold unit Ending Sale Goods Sold In ending Inventory Inventory $ 0 $ 0.00 $ $ 0.00 $ 0 0 0.00 0 0.00 0 0 0.00 0 0.00 0 0.00 0 0 $ 0 0 $ 0 0 OOOO

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