alculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).
alculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).
Chapter10: Inventory
Section: Chapter Questions
Problem 10PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...
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alculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).
![Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations
for last-in, first-out (LIFO).
Number
of Units Unit Cost
Sales
Beginning inventory
260
$130
Sold
160
$170
Purchased
500
133
Sold
400
172
Purchased
380
140
Sold
370
204
Ending inventory
210
LIFO (perpetual) Inventory
Cost of Goods Purchased
Cost of Goods Sold
Cost of Inventory Remaining
Number
Number
Number
of Units
Unit Cost
Total Cost
of Units
Unit Cost
Total Cost
of Units
Unit Cost
Total Cost
Beginning
260 V
$
Sale
160
170 x
27,200 x
100 V
Purchase
500
133
66,500
100
500 V
Sale
400
172 X
68,800 X
200 x
X
Purchase
380
140
53,200
X
Sale
X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa443e622-2e47-42be-bdfe-baab68cc1529%2F3c1aaa71-61ff-4184-b20f-6b8c6cc1d87b%2Fc5wie3h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations
for last-in, first-out (LIFO).
Number
of Units Unit Cost
Sales
Beginning inventory
260
$130
Sold
160
$170
Purchased
500
133
Sold
400
172
Purchased
380
140
Sold
370
204
Ending inventory
210
LIFO (perpetual) Inventory
Cost of Goods Purchased
Cost of Goods Sold
Cost of Inventory Remaining
Number
Number
Number
of Units
Unit Cost
Total Cost
of Units
Unit Cost
Total Cost
of Units
Unit Cost
Total Cost
Beginning
260 V
$
Sale
160
170 x
27,200 x
100 V
Purchase
500
133
66,500
100
500 V
Sale
400
172 X
68,800 X
200 x
X
Purchase
380
140
53,200
X
Sale
X
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