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 weighted average (AVG). Round "Unit Cost" answers to 2 decimal places and other answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning Inventory 260 $130 Sold 160 $170 Purchased 500 133 Sold 400 172 Purchased 420 140 Sold 370 204 Ending Inventory 250
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 weighted average (AVG). Round "Unit Cost" answers to 2 decimal places and other answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning Inventory 260 $130 Sold 160 $170 Purchased 500 133 Sold 400 172 Purchased 420 140 Sold 370 204 Ending Inventory 250
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 weighted average (AVG). Round "Unit Cost" answers to 2 decimal places and other answers to the nearest dollar amount.
Number
of Units
Unit Cost
Sales
Beginning Inventory
260
$130
Sold
160
$170
Purchased
500
133
Sold
400
172
Purchased
420
140
Sold
370
204
Ending Inventory
250
AVG (perpetual) Inventory
Cost of Goods Purchased
Cost of Goods Sold
Cost of Inventory Remaining
#units
Unit Cost
Total Cost
#units
Unit Cost
Total Cost
#units
Unit Cost
Total Cost
Beginning
260
$
130
$
33,800
Sale
160
130 V
20,800
100 V
Purchase
500
$
133
66,500
Sale
400
132.5
53,000
Purchase
420
140
58,800
Sale
370
Total Purchases
$ 125,300 V
Total COGS
Gross Margin, AVG perpetual
Sales
COGS
Gross Margin
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