please help me im desprate!!! i will give you thumbs up!! and a good review!!
Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 110 units at $105 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 222 -unit purchase at $119 per unit; the second was a 260 -unit purchase at $126 per unit. During the period, it sold 366 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses: a. FIFO. b. LIFO. c. Weighted average. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses LIFO. a. FIFO. b. LIFO. c. Weighted average. Complete this question by entering your answers in the tabs below. Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses Weighted average. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Required information Exercise 5-4A (Algo) Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Ending inventory consisted of 52 units. Mason sold 482 units at $120 each. All purchases and sales were made with cash. Operating expenses amounted to $3,750. Exercise 5-4A (Algo) Part a Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.) Required information Exercise 5-4A (Algo) Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 [The following information applies to the questions displayed below] The following information pertains to Mason Company for Year 2. Ending inventory consisted of 52 units. Mason sold 482 units at $120 each. All purchases and sales were made with cash. Operating expenses amounted to $3,750. Exercise 5-4A (Algo) Part b b. What is the amount of net income using FIFO, LIFO, and weighted average? (ignore income tax considerations.) (Round cost per unit to 3 decimal places and other intermediate answers and final answers to the nearest whole dollar amount.) Required information Exercise 5-4A (Algo) Effect of inventory cost flow (FIFO, LIFO, and weighted average) on gross margin LO 5-1 [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Ending inventory consisted of 52 units. Mason sold 482 units at $120 each. All purchases and sales were made with cash. Operating expenses amounted to $3.750. Exercise 5-4A (Algo) Part C c. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.)
