a) Periodic FIFO | Cost of Goods Available for Sale | Cost of Goods Sold | Ending Inventory | ||||||
# of units | Cost per unit | Cost of Goods Available for Sale | # of units sold | Cost per unit | Cost of Goods Sold | # of units | Cost per unit | Ending Inventory | |
Beginning inventory | 180 | 70.00 | 12600 | 180 | 70.00 | 12600 | 0 | 0.00 | 0 |
Purchases: | |||||||||
March 5 | 480 | 75.00 | 36000 | 480 | 75.00 | 36000 | 0 | 0.00 | 0 |
March 18 | 280 | 80.00 | 22400 | 160 | 80.00 | 12800 | 120 | 80.00 | 9600 |
March 25 | 360 | 82.00 | 29520 | 0 | 360 | 82.00 | 29520 | ||
Total | 1300 | 100520 | 820 | 61400 | 480 | 39120 | |||
b) Periodic LIFO | Cost of Goods Available for Sale | Cost of Goods Sold | Ending Inventory | ||||||
# of units | Cost per unit | Cost of Goods Available for Sale | # of units sold | Cost per unit | Cost of Goods Sold | # of units | Cost per unit | Ending Inventory | |
Beginning inventory | 180 | 70.00 | 12600 | 0 | 180 | 70.00 | 12600 | ||
Purchases: | |||||||||
March 5 | 480 | 75.00 | 36000 | 180 | 75.00 | 13500 | 300 | 75.00 | 22500 |
March 18 | 280 | 80.00 | 22400 | 280 | 80.00 | 22400 | 0 | ||
March 25 | 360 | 82.00 | 29520 | 360 | 82.00 | 29520 | 0 | ||
Total | 1300 | 100520 | 820 | 65420 | 480 | 35100 | |||
c) Average Cost | Cost of Goods Available for Sale | Cost of Goods Sold | Ending Inventory | ||||||
# of units | Cost per unit | Cost of Goods Available for Sale | # of units sold | Cost per unit | Cost of Goods Sold | # of units | Cost per unit | Ending Inventory | |
Beginning inventory | 180 | 70.00 | 12600 | ||||||
Purchases: | |||||||||
March 5 | 480 | 75.00 | 36000 | ||||||
March 18 | 280 | 80.00 | 22400 | ||||||
March 25 | 360 | 82.00 | 29520 | ||||||
Total | 1300 | 100520 | 820 | 77.32 | 63406.4 | 480 | 77.32 | 37113.6 | |
Average cost per unit = Cost of goods available for sale/Number of units = $100520/1300 = $77.32 | |||||||||
d) Specific Identification | Cost of Goods Available for Sale | Cost of Goods Sold | Ending Inventory | ||||||
# of units | Cost per unit | Cost of Goods Available for Sale | # of units sold | Cost per unit | Cost of Goods Sold | # of units | Cost per unit | Ending Inventory | |
Beginning inventory | 180 | 70.00 | 12600 | 90 | 70.00 | 6300 | 90 | 70.00 | 6300 |
Purchases: | |||||||||
March 5 | 480 | 75.00 | 36000 | 410 | 75.00 | 30750 | 70 | 75.00 | 5250 |
March 18 | 280 | 80.00 | 22400 | 120 | 80.00 | 9600 | 160 | 80.00 | 12800 |
March 25 | 360 | 82.00 | 29520 | 200 | 82.00 | 16400 | 160 | 82.00 | 13120 |
Total | 1300 | 100520 | 820 | 63050 | 480 | 37470 |
Required information [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic...
Required information (The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 135 units @ $70 per unit Mar. 5 Purchase 435 units @ $75 per unit Mar. 9 Sales 455 unitse $105 per unit Mar. 18 Purchase 190 units @ $80 per unit Mar. 25 Purchase 270 units...
Required information [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 165 units @ $55 per unit 465 units @ $60 per unit 485 units @ $90 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sa Totals 250 units @...
ework i Saved Help Required information (The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 135 units @ $70 per unit 435 units @ $75 per unit 455 units @ $105 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales...
Required information [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 180 units @ $70 per unit 480 units @ $75 per unit 500 units @ $105 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 280 units @...
Required information [The following information applies to the questions displayed below.) Warnerwoods 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 180 units @ $52.60 per unit 265 units @ $57.60 per unit 340 units @ $87.60 per unit Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 125 units @ $62.60...
Required information (The following information applies to the questions displayed below.) Warnerwoods 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 70 units @ $50.40 per unit 210 units @ $55.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 230 units @ $85.40 per unit 70 units @...
Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 100 units @ $50.00 per unit Mar. 5 Purchase 400 units @ $55.00 per unit Mar. 9 Sales 420 units @ $85.00 per unit Mar. 18 Purchase 120 units @ $60.00 per unit Mar. 25 Purchase 200...
Required information [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Date activities Units acquired at Cost Units sold at Retail Mar. 1 Beginning inventory 180 units $52.60 per unit Mar. 5 Purchase 265 units $57.60 per unit 9 Sales 340 units $87.60 per unit Mar. 18 Purchase 125 units. $62.60 per unit Mar. 25 Purchase 230 units # $64.60 per unit...
Required information [The following information applies to the questions displayed below.] Warnerwoods 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 160 units @ $52.20 per unit 255 units @ $57.20 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 320 units @ $87.20 per unit 115 units @ $62.20...
I want only b Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 100 units @ $50.00 per unit 400 units @ $55.00 per unit 420 units @ $85.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales...