problem 5-2a

Problem 52AA Periodic: Alternative cost flows Gip3 Refer to the information in (G) Problem 5-1A and assume the periodic inventory system is used. Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 3. Compute the cost assigned to ending inventory using (a)FIFO, ( b ) L.IFO, (c) weighted average, and (d) specific identification. (Round all ambunts to cents.) 4. Compute gross profit earned by the company for each of the four costing methods in part 3. Problem 52AA Periodic: Alternative cost flows Gip3 Refer to the information in (G) Problem 5-1A and assume the periodic inventory system is used. Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 3. Compute the cost assigned to ending inventory using (a)FIFO, ( b ) L.IFO, (c) weighted average, and (d) specific identification. (Round all ambunts to cents.) 4. Compute gross profit earned by the company for each of the four costing methods in part 3