PLEASE be specific on where the numbers should be! Required Information The foll

Question

PLEASE be specific on where the numbers should be!

Required Information The following information applies to the questions displayed below. into the following purchases for March. Units sold at Retail Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 sales Units Acquired at Cost 15e units $52.00 per unit 250 units $57.00 per unit 31e units@ $87.0 per unit 11e units@ $62.ee per unit 2ee units@ $64.ee per unit 18e units $97. per unit 49e units Totals 71e units 2. Compute the number of units In ending Inventory

Explanation / Answer

WEIGHTED AVERAGE METHOD Goods Purchased Cost of Goods Sold Ending Inventory Date of transaction Activity units unit cost units sold unit cost COG$ Ending inventory unit Cost per Unit Ending inventory cost 01-03-2017 Beginning inventory 150 52 150 52 7800 05-03-2017 Purchases 250 57 150 52 7800 250 57 14250 Average 400 55.125 22050 09-03-2017 Sales 310 55.125 17088.75 90 55.125 4961.25 18-03-2017 Purchases 110 62 90 55.125 4961.25 110 62 6820 Average 200 58.90625 11781.25 25-03-2017 Purchases 200 64 200 58.906 11781.25 200 64 12800 Average 400 61.45313 24581.25 29-03-2017 sales 180 61.453 11061.54 220 61.453 13519.66 FIFO Goods Purchased Cost of Goods Sold Ending Inventory Date of transaction Activity units unit cost units sold unit cost COG$ Ending inventory unit Cost per Unit Ending inventory cost 01-03-2017 Beginning inventory 150 52 150 52 7800 05-03-2017 Purchases 250 57 150 52 7800 250 57 14250 09-03-2017 Sales 150 52 7800 160 57 9120 90 57 5130 18-03-2017 Purchases 110 62 90 57 5130 110 62 6820 25-03-2017 Purchases 200 64 90 57 5130 110 62 6820 200 64 12800 29-03-2017 sales 90 57 5130 90 62 5580 20 62 1240 200 64 12800 LIFO Goods Purchased Cost of Goods Sold Ending Inventory Date of transaction Activity units unit cost units sold unit cost COG$ Ending inventory unit Cost per Unit Ending inventory cost 01-03-2017 Beginning inventory 150 52 150 52 7800 05-03-2017 Purchases 250 57 150 52 7800 250 57 14250 09-03-2017 Sales 250 57 14250 60 52 3120 90 52 4680 18-03-2017 Purchases 110 62 90 52 4680 110 62 6820 25-03-2017 Purchases 200 64 90 52 4680 110 62 6820 200 64 12800 29-03-2017 sales 180 64 11520 90 52 4680 110 62 6820 20 64 1280 Specific ID Goods Purchased Cost of Goods Sold Ending Inventory Date of transaction Activity units unit cost units sold unit cost COG$ Ending inventory unit Cost per Unit Ending inventory cost 01-03-2017 Beginning inventory 150 52 150 52 7800 05-03-2017 Purchases 250 57 150 52 7800 250 57 14250 09-03-2017 Sales 90 52 4680 60 52 3120 220 57 12540 30 57 1710 18-03-2017 Purchases 110 62 60 52 3120 30 57 1710 110 62 6820 25-03-2017 Purchases 200 64 60 52 3120 30 57 1710 110 62 6820 200 64 12800 29-03-2017 sales 70 62 4340 60 52 3120 110 64 7040 30 57 1710 40 62 2480 90 64 5760 GROSS MARGIN FIFO LIFO AVG. COST SPEC . ID Sales 44430 44430 44430 44430 Less Cost of Goods sold 27630 28890 28150.34 28600 Gross profit 16800 15540 16279.66 15830

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