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 $120 Sold 160 $160 Purchased 500 123 Sold 400 162 Purchased 420 130 Sold 370 194 Ending Inventory 250 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining #units Unit Cost Total Cost #units Total Cost Unit Cost #units Unit Cost Total Cost Beginning 260 V 120 V $ 31,200 Sale 160 100 120 Purchase 500 61,500 v 123 600 Sale 400 200 Purchase 420 130 54,600 620 Sale 370 v 250 V Total Purchases 116,100 v Total COGS Gross Margin, AVG perpetual

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 $120 Sold 160 $160 Purchased 500 123 Sold 400 162 Purchased 420 130 Sold 370 194 Ending Inventory 250 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining #units Unit Cost Total Cost #units Total Cost Unit Cost #units Unit Cost Total Cost Beginning 260 V 120 V $ 31,200 Sale 160 100 120 Purchase 500 61,500 v 123 600 Sale 400 200 Purchase 420 130 54,600 620 Sale 370 v 250 V Total Purchases 116,100 v Total COGS Gross Margin, AVG perpetual

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ABC Ltd. Uses the periodic inventory system and provided the following data: Cost Per Unit Date 1/2 4/3 5/9 9/18 10/17 11/5 $29,780 O $29,990 O $29,660 Beginning Inventory Purchase Sale Purchase Sale Purchase What is Cost of Goods Sold using the FIFO cost flow assumption? O $30,675 Units 120 150 175 140 180 120 $80 $85 $86 $88
Man Give me correct answer with explanation
Required: Complete the table below to estimate the LIFO cost of ending inventory and cost of goods sold using the information provided. Assume stable retail prices during the period. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign. Beginning inventory Net purchases Net markups Net markdowns Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) Cost-to-retail percentage (beginning) Cost-to-retail percentage (current) Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold × Answer is not complete. Cost-to-Retail Cost Retail Ratio $ 190,000 $ 290,000 660,000 865,000 20,000 (5,000) 660,000 880,000 850,000 1,170,000 65.52 % 75.00 % (836,000) $ 334,000 (46,008) X
Can you please answer the ending inventory and the cost of goods sold for FIFO. Thank you!
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CAN SOMEONE SHOW ME HOW TO COMPLETE THIS CHART?
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