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please help me complete A B C (blue arrows) please help, thank you. Tree Seedlings has the following current-year purchases and sales for its only
please help me complete A B C (blue arrows)
please help, thank you.
Tree Seedlings has the following current-year purchases and sales for its only product. Units Soldat Retail Activities Jan. 1 Beginning inventory Jan. 3 Sales Units Acquired at Cost 168 units @ $2 118 units @ $8 246 units $3 $ 738 188 units 58 216 units $4 Nov. 6 Sales 158 units $ $8 Required: The company uses a perpetual Inventory system. a. Determine the costs assigned to ending Inventory and to cost of goods solo using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross margin for each method. Thanh to this Pin Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Goods Purchased # of Cost units per unit Date Cost of Goods Sold #of units Cost Cost of Goods sold per unit Sold Inventory Balance Cst Inventory Hof units Balance 1601 @ $ 2.00 = $ 320.00 per unit January 1 January 3 February 14 February 15 June 30 November 8 November 19 Tras Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using UFO. Perpetual LIFO: Goods Purchased of Cost units Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Date Inventory Balance Cost Inventory # of units Balance 160 @ $ 2.00 = $ 320.00 per unit per unit January 1 January 3 February 14 February 15 June 30 November 8 November 19 Totals 0.00 Red Tree Seedlings has the following current-year purchases and sales for its only product Date Activities Jan. 1 Beginning inventory Jan3 Sales Feb. 14 Purchase Feb. 15 Sales June 30 Purchase Nov. 6 Sales Nov. 19 Purchase Totals Units Acquired at Cost Units Sold at Retall 160 units @ $2 = $ 320 110 units @ $8 246 units @ $3 = $ 738 180 units @ $3 210 units @ $4 = $ 840 158 units 58 68 units @ $5 $340 684 units $2,238 448 units Required: The company uses a perpetual Inventory system. a. Determine the costs assigned to ending Inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO. c. Compute the gross margin for each method. Complete this question by entering your answers the tabs below. Required A A Required B Required C Compute the gross margin for each method. FIFO: LIFO: Sales revenue Coss of 9:3:s sel: s Required BStep by Step Solution
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