A company uses a prepetual inventory system. It entered intothe following calend

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A company uses a prepetual inventory system. It entered intothe following calendar year 2009 purchases and salestransactions.    Date            Activities                                 Units Acquired at Cost        Units Sold at Retail     Jan.1         Begininginventory...............        770 units @$50/unit                 Feb. 10     Purchase.............................         420units @ $41/unit     Mar.13     Purchase..............................        260 units @ $25/unit     Mar.15     Sales.....................................                                                   770 units @ $75/unit     Aug. 21     Purchase...............................       180 units @ $49/unit     Sept. 5      Purchase...............................        585units @ $42/unit     Sept. 10    Sales.....................................                                                     650units @ $75/unit                      Totals....................................        2,215units                          1,420 units a) Compute the cost assigned to ending inventory using(1) FIFL, (2) LIFO, (3) specific identification       units sold consist of 95 unitsfrom beginning inventory, 175 from a February 10 purchase, 70from       a March 13 purchase, and 455from a September 5 purchase, and (4) weighted average - round       per unit cost to three decimalsand inventory balances to the dollar. b) Compute gross profit earned by the company. A company uses a prepetual inventory system. It entered intothe following calendar year 2009 purchases and salestransactions.    Date            Activities                                 Units Acquired at Cost        Units Sold at Retail     Jan.1         Begininginventory...............        770 units @$50/unit                 Feb. 10     Purchase.............................         420units @ $41/unit     Mar.13     Purchase..............................        260 units @ $25/unit     Mar.15     Sales.....................................                                                   770 units @ $75/unit     Aug. 21     Purchase...............................       180 units @ $49/unit     Sept. 5      Purchase...............................        585units @ $42/unit     Sept. 10    Sales.....................................                                                     650units @ $75/unit                      Totals....................................        2,215units                          1,420 units a) Compute the cost assigned to ending inventory using(1) FIFL, (2) LIFO, (3) specific identification       units sold consist of 95 unitsfrom beginning inventory, 175 from a February 10 purchase, 70from       a March 13 purchase, and 455from a September 5 purchase, and (4) weighted average - round       per unit cost to three decimalsand inventory balances to the dollar. b) Compute gross profit earned by the company. A company uses a prepetual inventory system. It entered intothe following calendar year 2009 purchases and salestransactions.    Date            Activities                                 Units Acquired at Cost        Units Sold at Retail     Jan.1         Begininginventory...............        770 units @$50/unit                 Feb. 10     Purchase.............................         420units @ $41/unit     Mar.13     Purchase..............................        260 units @ $25/unit     Mar.15     Sales.....................................                                                   770 units @ $75/unit     Aug. 21     Purchase...............................       180 units @ $49/unit     Sept. 5      Purchase...............................        585units @ $42/unit     Sept. 10    Sales.....................................                                                     650units @ $75/unit                      Totals....................................        2,215units                          1,420 units a) Compute the cost assigned to ending inventory using(1) FIFL, (2) LIFO, (3) specific identification       units sold consist of 95 unitsfrom beginning inventory, 175 from a February 10 purchase, 70from       a March 13 purchase, and 455from a September 5 purchase, and (4) weighted average - round       per unit cost to three decimalsand inventory balances to the dollar. b) Compute gross profit earned by the company.

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