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 Unit sales Beginning invengtory 240 $100 Sold 160 $140 Purchased 520 $103 Sold 400 $142 Purchased 400 $110 Sold 370 $144 Ending inventory 230
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 Unit sales
Beginning invengtory 240 $100
Sold 160 $140
Purchased 520 $103
Sold 400 $142
Purchased 400 $110
Sold 370 $144
Ending inventory 230
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