Problem G part a only.

censed under a creative Commo Attribution 3,o Licen 7. Measuring and reporting inventories oblem G The following data relate to the beginning inventory, purchas and sales of Braxton Company for the year 2010 Unit Units Merchandise Inventory, January 1 $5.04. Purchases: February 2 3.60 June 15 1,200 September 30 1,800 4.20 Sales: March 10 May 15 July 6 August 23 Eeach of suming use of perpetual inventory pro ure, compute the ending inventory and cost of goods sold under and the following methods (i) FIFo. (2) LIFo, and ighted-average (earry unit cost to four decimal places round total cost to nearest dollar. b. Repeat (a) assuming use of periodic inventory procedure Problem H Welch company accounts for a product it sells using LIFo periodic inventory procedure. P data for the year ended 20o9 December 31, are below. Merchandise inventory on January 1 was 3,ooo units shown at USD 14.40 each. Purchases Sales Unit Unit Units Units January 5 $18.00 January 10 4,000 $28.80 March 31 21.60 April 2 15,000 32.40 August 12 12,000 27.00 August 22 December 26 6,000 36.00 28.80 December 24 3,000 39.60 a. Compute the gross margin earned on sales of this product for 20o9 b. Repeat part (a) assuming that the December 26 purchase was made in January 2010 t c. Recompute the gross margin assuming that 10,ooo rather than 6,ooo units were purchased on December 26 the same cost per unit. d. solve parts (a), (b), and (c) using the FIFo method. Problem IThe accountant for Gentry Company prepared the following schedule of the company's inventory at oo9 December 31, and used the LcM method applied to to nven ng cost of goods sold Unit Unit