Purchases and sales During the quarter, the department purchased merchandise on account as follows: Sales for each month in the quarter were as follows: Operating expenses in the quarter were $98,000. Brentwood industrial Supplies distribules industrial equipment. The company's fiscal year ends on March 31,2023 One departrnent in the company had 50 industr sinks that cost $570 each on hand at danuary 1,2023 . Assume that the company uses a perpetual inventory system. Also assume that monthly purchases of invent occur on the first day of each month. (Click the icon to view the purchase and sale information.) Required 1. Determine the cost of the dopartment's ending inventory at March 31, 2023, under (a) movin-woighted-averape cost and (b) FIFO cost 2. Prepare the department's mult-step incorne statement for the quarter ended March 31,2023 , undor each method described in requirtment 1 . Requirement 1. Determine the cost of the department's ending inventory at March 31,2023, under (a) moving-woighted-averago cost and (b) FIFO cost. Propare the porpetual invertory record under (a) moving-weighted-average. (Round average cost per unit to the nearest cent. Round all other calculations to the nearest whole dollar.) Brentwood industrial Supplies distributes industrial equipment. The company's fiscal year ends on March 31, 2023. One department in the company had sinks that cost $570 each on hand at January 1, 2023. Assume that the company uses a perpetual inventory system. Also assume that monthly purchase occur on the first day of each menth i. (Click the icon to view the purchase and sale information.) Required 1. Determine the cost of the department's ending imventory at March 31,2023 , under (a) moving-woightod-average cost and (b) FIFO cost. 2. Prepare the department's multi-step income statement for the quarter ended March 31, 2023, under each method described in requirement 1. Purchases and sales During the quarter, the department purchased merchandise on account as follows: Sales for each month in the quarter were as follows: Operating expenses in the quarter were $98,000. Brentwood industrial Supplies distribules industrial equipment. The company's fiscal year ends on March 31,2023 One departrnent in the company had 50 industr sinks that cost $570 each on hand at danuary 1,2023 . Assume that the company uses a perpetual inventory system. Also assume that monthly purchases of invent occur on the first day of each month. (Click the icon to view the purchase and sale information.) Required 1. Determine the cost of the dopartment's ending inventory at March 31, 2023, under (a) movin-woighted-averape cost and (b) FIFO cost 2. Prepare the department's mult-step incorne statement for the quarter ended March 31,2023 , undor each method described in requirtment 1 . Requirement 1. Determine the cost of the department's ending inventory at March 31,2023, under (a) moving-woighted-averago cost and (b) FIFO cost. Propare the porpetual invertory record under (a) moving-weighted-average. (Round average cost per unit to the nearest cent. Round all other calculations to the nearest whole dollar.) Brentwood industrial Supplies distributes industrial equipment. The company's fiscal year ends on March 31, 2023. One department in the company had sinks that cost $570 each on hand at January 1, 2023. Assume that the company uses a perpetual inventory system. Also assume that monthly purchase occur on the first day of each menth i. (Click the icon to view the purchase and sale information.) Required 1. Determine the cost of the department's ending imventory at March 31,2023 , under (a) moving-woightod-average cost and (b) FIFO cost. 2. Prepare the department's multi-step income statement for the quarter ended March 31, 2023, under each method described in requirement 1
