(For specific identification, the May 9 sale consisted of 80 units from beginning inventory and 100 units from the May 6 purchase the May 30 sale consisted of 200 units from the May 6 purchase and 100 units from the May 25 purchase.) DateĬompute cost of goods available for sale and the number of units available for sale.Ĭompute the number of units in ending inventory.Ĭompute the cost assigned to ending inventory using ( a) FIFO, ( b) LIFO, ( c) weighted average, and ( d) specific identification. It entered into the following calendar-year purchases and sales transactions. lote: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.Aloha Company uses a perpetual inventory system. For specific identification, units sold include 60 nits from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the larch 25 purchase. Compute gross profit earned by the company for each of the four costing methods. It entered into the iollowing purchases and sales transactions for March. Company uses a perpetual inventory system. For specific identilication, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase. Compute the cost assigned to ending inventory using specific identification.
Note: Round your average cost per unit to 2 decimal places.Ĭomplete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using FIFO.Ĭompute the cost assigned to ending inventory using FIFO.Ĭompute the cost assigned to ending inventory using LiFO.Ĭompute the cost assigned to ending inventory using weighted average. Complete this question by entering your answers in the tabs below.
For pecific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the larch 18 purchase, and 80 units from the March 25 purchase. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. It entered into the following purchases and sales transactions for March. Warnerwoods Company uses a perpetual inventory system.
Compute the number of units in ending inventory. Required information Warnerwoods Company uses a perpetual inventory system.
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