Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 9-1 Part B The company uses the perpetual inventory method. It began the month of March with 100 units of inventory, at a unit
Problem 9-1 Part B The company uses the perpetual inventory method. It began the month of March with 100 units of inventory, at a unit cost of $55. Purchases during March March 5, 60 units at $60 each. March 18, 200 units at $65 each March 29, 40 units at $75 each. Sales during March March 12, 60 units. March 25, 210 units. All units were sold to customer for $100 each. WWW 1. Use the following format to set up this inventory.costing problem, as shown in Video #2. Inventory Total Cost Date Units Cost per Date Units Total Cost Unit Beg Balance Units Cost Beginning Balance + Purchases Goods Available for Sale - Sold Ending Balance 2. Use the moving weighted average method to calculate the cost of goods sold for each sale, the total cost of goods sold for the month, and ending inventory. 3. Assuming that the March 12 sale came from beginning inventory, and the March 25 sale was comprised of 25 units from beginning inventory, all 60 units of the March 5 purchase, and the remainder from the March 18 purchase, use specific identification to the cost of goods sold for each sale, the total cost of goods sold for the month, and ending inventory. Problem 9-1 Part B The company uses the perpetual inventory method. It began the month of March with 100 units of inventory, at a unit cost of $55. Purchases during March March 5, 60 units at $60 each. March 18, 200 units at $65 each March 29, 40 units at $75 each. Sales during March March 12, 60 units. March 25, 210 units. All units were sold to customer for $100 each. WWW 1. Use the following format to set up this inventory.costing problem, as shown in Video #2. Inventory Total Cost Date Units Cost per Date Units Total Cost Unit Beg Balance Units Cost Beginning Balance + Purchases Goods Available for Sale - Sold Ending Balance 2. Use the moving weighted average method to calculate the cost of goods sold for each sale, the total cost of goods sold for the month, and ending inventory. 3. Assuming that the March 12 sale came from beginning inventory, and the March 25 sale was comprised of 25 units from beginning inventory, all 60 units of the March 5 purchase, and the remainder from the March 18 purchase, use specific identification to the cost of goods sold for each sale, the total cost of goods sold for the month, and ending inventory
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started