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y uses a perpetual inventory system. It entered into the following purchases and sales trans- PROBLE April. (For specific identification, the April 9 sale consisted
y uses a perpetual inventory system. It entered into the following purchases and sales trans- PROBLE April. (For specific identification, the April 9 sale consisted of 8 units from beginning inven- 7 units from the April 6 purchase; the April 30 sale consisted of 12 units from beginning inven- Problem 6-1B ing Company ry d units from the April 6 purchase, and 10 units from the April 25 purchase.) Perpetual: Alternative cost flows P1 Activities Units Acquired at Cost 20 units @ $3,000.00 per unit 30 units o $3,500.00 per unit Date or 1 Beginning inventory.. Apr. 6 Purchase Apr. 9 Sales p.17 Purchase Apr 25 Purchase Apr. 30 Sales Units Sold at Retail 35 units $12,000,00 per unit ..5 units $4,500.00 per unit 10 units @$4,800.00 per unit 25 units o $14,000,00 per unit 60 units 65 units Required 1. Compute cost of goods available for sale and the number of units available for sale 2 Compute the nuaber of units in ending inventory. Compute the c assigned to ending inventory using (a) FIR), (b)IIF( ) (c) weighted average Check (3) Ending inventory FIFO, $24,000, LIFO $15,000; WA, $20,000 d) specific idenification. (Round all amounts to cents.) and fit earned by the company for each of the four costing methods in part 3 (4) LIFO gross profit $549,500
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