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(The following information applies to the questions displayed below.] Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions
(The following information applies to the questions displayed below.] Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 240 units @ $53.80/unit 295 units @ $58.80/unit Date Mar. 1 Mar. 5 Mar. 9 Mar. 18 Mar. 25 Mar. 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales 400 units @ $88.80/unit 155 units @ $63.80/unit 290 units @ $65.80/unit 270 units @ $98.80/unit Totals 980 units 670 units 2. vatre 5.00 points Required: 1. Compute cost of goods available for sale and the number of units available for sale. (Omit the "$" sign in your response.) $ Cost of goods available for sale Number of units available for sale units 3. value 3.00 points 2. Compute the number of units in ending inventory. Ending inventory units 3. Compute the cost assigned to ending inventory using (a) FIFO,(b) weighted average cost, and (@) specific identification. For specific identification, the March 9 salo consisted of 136 units from beginning inventory and 265 units from the March 5 purchase; the March 29 sale consisted of 116 units from the March 18 purchase and 155 units from the March 26 purchase. (Due to rounding, the sum of Cost of Goods Sold and Ending Inventory may not equal the Cost of Good available for sales. Round your per unit costs to 3 decimal places and Inventory balances to the nearest dollar amount. Omit the "$" sign in your response.) Ending Inventory $ (a) FIFO (b) Weighted average cost (c) Specific identification $ $ value: 7.00 points 4. Compute gross profit earned by the company for each of the four costing methods. (Round your per unit costs to 3 decimal places and inventory balances and final answer to the nearest dollar amount. Omit the "S" sign in your response.) Gross profit $ FIFO Weighted average Specific identification $ $
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