Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

tried the problem and keep messing up this part not sure what im doing wrong please help pters 4 and 5 G Saved Required information

tried the problem and keep messing up this part not sure what im doing wrong please help image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
pters 4 and 5 G Saved Required information The following information applies to the questions displayed below) Company uses a perpetual inventory system t entered into the following purchases and sales transactions for March. Date Mar 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales ActivitiesUnits Acquired at Cost Units Sold at Retail 180 units $52.60 per unit 265 units $57.68 per unit 340 units e $87.60 per unit 125 units $62.60 per unit 230 units e $64.60 per unit 210 unitse $97.60 per unit 550 units Totals 800 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (cweighted average, and (d) specific identfication For specific identification, the March 9 sale consisted of 105 units from beginning inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Complete this questions by entering your answers in the below tabs. weighted Specific Id Perpetual FIFO Perpetual LI FO Average Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 105 units from beginn inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase Specific Identification s Sold nvento Cost per # of units sold : Cost per | Cost of Goods Cost per Date # of units 2 Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO t 2 of 2 Goods Purchased Cost of Goods Sold #of units Cost perl unit # of units sold | Cost per | unit Cost of Goods Sold Cost per Inventory unite! Balance #0f units Date March 1 180$52.60$9,468.00 18052 60 $9,46800 265| @| $5760| 15.264 00 ints 265$ 57.60 March 5 0159.35 24.732.00 0 S52 60 March 9 180| @| $52 60| = | $9468 00 445$57 60 25,63200 10557.606,048.00 eBook $6,048 00 35,100.00 $5260 125$6260 March 18 References e $57.60 $6260 $5260 230| @ 64 60 March 25 105$ 57.606,048 00 125$ 6260 7.825 00 225 56460 14.53500 28 408 00 552.60 $57.60 $62.60 $52600.00 905760 5,18400 90$62605.63400 March 29 000 230 5 64 6014,858.00 6460 Totals Perpetual LIFO of 5EE Prey Required information 5 weightedSpedific Id Perpetual FIFO Perpetual L Compute the cost assigned to ending inventory using LIFO Part 2 of 2 PerpetualLFO: 5 points Cost perle funits-TCostper, sold #of Date Cost of Goods | # of units : -unit Cost per: Inventory Sold Bal March 1 01.5919 180 $ 5260$9,468 00 March 5 265 57.60 180| @: $52 601=1 s9 468 00 $57 60 $9.468 0 March 9 445| @ S52 601 265| @ | S5760|j 15.264 00 @ S 52.6O/ @I s57 60i. $9 46800 3 407 00 References $9,468.00 March 18 52 60 $5760 62.60 March 25 180$ 52.60E59 468.00 el/s 57.60 125) @ 62 60-l 45 S 64.60 7,825.00 28 747.00 S 000 0.00 $9,468 00 e $57 60 $6260 $57.60 @|$62 601. I 7.825 00 45 $64 6028.747.00 $64 60 0.00 46 040 Totals 38.671.00 46 Complete this questions by entering your answers in the below tabs. Perpetual FIFO Perpetual LIFO Average Part 2 of 2 Average Specific 1d Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted inventory and 235 units from the March S purchase. purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 points Specific Identification: 01 59:03 #of units-Cost per|CostofGoods #of units Cost perl Date Cost per: Inventory unit Belance # of units unit sold Sold March 1 180| @I s52 601#1 s9468 00 180$ 52.60 $9,468.00 26557.6015,264.00 eBook March 5 265 $57.60 References 24,732.00 265 $526013939.00 30 $ 57.60$1,728.00 15,667.00 265| @ | S 52.601 1 i3 939 00 01 @ l $57 601 = 1 1.728.00 445 $$26023 40700 235|@! $57.601 E 13.536 00 March 9 36,943 00 March 18 125S 6260 125 $62607,825.00 March 25 230$ 64.60 265$ 52 60 0$57 60 1728 00 25$62607.825 00 9,00 23 @ ! $64 60| -| 14.858 00 March 29 @| 5260 1 0.00 e i s52 601-1 13 939 00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical Steps To Forensic Auditing And Fraud Investigation

Authors: Enape Victoria Ayishetu

1st Edition

1669867048, 978-1669867043

More Books

Students also viewed these Accounting questions

Question

Presentations Approaches to Conveying Information

Answered: 1 week ago