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tree seedlings has the following current-year purchases and sales for its products Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning
tree seedlings has the following current-year purchases and sales for its products
educat Y Tree Seeding The Follow ortowcation.com/videos.com entory Costing Required information RULU Complete this question by entering your answers in the tabs below. Required A Required B Required c Determine the costs assigned to ending inventory and to cost of goods sold using FIFO Perpetual FIFO: Goods Purchased #01 Cost per units unit Cost of Goods Sold of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory # of units unit Balance 40CD $ 2.00 30.00 January 1 January 3 February 16 February 15 June 30 November November 10 5 0.00 Required > Required information Required A Required B Required C Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased #of Cost per units unit Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Date January 1 January 3 loventory Balance Inventory # of units Cost per Balance 40 $ 200 = $ 80.00 February 14 February 15 Juno 30 November November 19 $ Tots 000 O 09 . c 1 DIRIZ.Dabey X C C x x C Decatheducation.com/de.com coccion.com CLO 3. Inventory Costing 2 Part 2 of 2 Required information The following information applies to the questions displayed below) Tree Seedlings has the following current year purchases and sales for its only product. 5 pom ACTIVITIE un Sales b.10 Purchase Sale una de Sale Phi cs The company uses a perpetual inventory system a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO c. Compute the gross profit for each method Complete this question by catering your answers in the tabs below MA Red Compute the ground nath metha FO Gosti od Door G Date | Activities | Units Acquired at Cost | Units Sold at Retail | |||||||||||||
Jan. | 1 | Beginning inventory | 40 | units | @ $2 | = | $ | 80 | ||||||||
Jan. | 3 | Sales | 30 | units | @ $8 | |||||||||||
Feb. | 14 | Purchase | 70 | units | @ $3 | = | $ | 210 | ||||||||
Feb. | 15 | Sales | 60 | units | @ $8 | |||||||||||
June | 30 | Purchase | 90 | units | @ $4 | = | $ | 360 | ||||||||
Nov. | 6 | Sales | 86 | units | @ $8 | |||||||||||
Nov. | 19 | Purchase | 20 | units | @ $5 | = | $ | 100 | ||||||||
Totals | 220 | units | $ | 750 | 176 | units | ||||||||||
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