Ch 9 Problem Set A Problem 9-1 Part A • Eitzgibbons Company uses the perpetual inventory method. . Fitzgibbons began the month of March with 100 units of inventory, at a unit cost of $55. On March 5, Eitzgibbons purchased 60 units at $60 gach On March 12, they sold 60 units On March 18, Eitzgibbons purchased 200 units at $65 each. On March 25, Eitzgibbons sold 210 units. On March 29, Eitzgibbons purchased 40 units at $75 each. All units were sold to customer for $100 each. 1. Use the following format to set up this inventory costing problem, as shown in Video #2. . . . ● . . Date Units Beginning Balance +Purchases Goods Available for Sale - Sold Cost per Unit Inventory Total Cost Date Units Units Cost Total Cost Ending Balance 2. Use the FIFO cost assumption to calculate the cost of goods sold for each sale, the total cost of goods sold for the month, and ending inventory. 3. Use the LIFO cost assumption to calculate the cost of goods sold for each sale, the total cost of goods sold for the month, and ending inventory.

Ch 9 Problem Set A Problem 9-1 Part A • Eitzgibbons Company uses the perpetual inventory method. . Fitzgibbons began the month of March with 100 units of inventory, at a unit cost of $55. On March 5, Eitzgibbons purchased 60 units at $60 gach On March 12, they sold 60 units On March 18, Eitzgibbons purchased 200 units at $65 each. On March 25, Eitzgibbons sold 210 units. On March 29, Eitzgibbons purchased 40 units at $75 each. All units were sold to customer for $100 each. 1. Use the following format to set up this inventory costing problem, as shown in Video #2. . . . ● . . Date Units Beginning Balance +Purchases Goods Available for Sale - Sold Cost per Unit Inventory Total Cost Date Units Units Cost Total Cost Ending Balance 2. Use the FIFO cost assumption to calculate the cost of goods sold for each sale, the total cost of goods sold for the month, and ending inventory. 3. Use the LIFO cost assumption to calculate the cost of goods sold for each sale, the total cost of goods sold for the month, and ending inventory.

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Description: Please do not give solution in image format thanku Ch 9 Problem Set AProblem 9-1 Part A•Fitzgibbons Company, uses the perpetual inventory method.• Fitzgibbons began the month of March with 100 units of inventory, at a unit cost of $55..On March 5, Ei

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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