Only 4b question. Thanks! Telamark Company uses the moving weighted average method for Inventory costing.Required:The following Incomplete inventory sheet regarding Product W506 is avallable for the month of March 2020. Complete the Inventorysheet. (Use the value of the ending Inventory as your bese number and adjust the COGS $ amount to the requlred amount tomake the Total Goods Avallable for Sale to the total of the Velue of the ending Inventory and the COGS total. Negative valueshould be Indicated with minus sign. Round your Intermediate and final answers to 2 decimal places.)Purchases/Transportation-In/(PurchaseReturns/Discounts)Cost of Goods Sold/(Returns toInventory)Balance in InventoryUnitsAvgCost/UnitDateUnitsCost/UnitTotal $Units Cost/UnitTotal $Total $Mar. 1Brought Forward6094.005,640.0023598.003224(2)765174097.002843TotalsGoods Available for SaleGoods SoldEnding Inventory Note: March 4 reflects a return made by a customer of Incorrect items shipped on March 3; these Items were returned toInventory.Analysls Component:The gross profit realized on the sale of Product W506 during February 2020 was 36.16%. The selling price was $148 during bothFebruary and March. Calculate the gross profit ratlo for Product W506 for March 2020 and determine whether the change Is favorableor unfavorable from February. (Round your Intermedlate calculations and final answer to 2 decimel places.)Gross profit ratio

1. Weighted Average Method - Under Weighted Average Method inventory purchased are sold at a average…

Note: March 4 reflects a return made by a customer of Incorrect Items shlpped on March 3; these Items were returned to Inventory. Analysls Component: The gross profit realized on the sale of Product W506 during February 2020 was 36.16%. The selling price was $148 during both February and March. Calculate the gross profit ratlo for Product W506 for March 2020 and determine whether the change Is favorable or unfavorable from February. (Round your Intermedlate calculations and final answer to 2 decinmal places.) Gross profit ratio

Note: March 4 reflects a return made by a customer of Incorrect Items shlpped on March 3; these Items were returned to Inventory. Analysls Component: The gross profit realized on the sale of Product W506 during February 2020 was 36.16%. The selling price was $148 during both February and March. Calculate the gross profit ratlo for Product W506 for March 2020 and determine whether the change Is favorable or unfavorable from February. (Round your Intermedlate calculations and final answer to 2 decinmal places.) Gross profit ratio

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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Sanfillipo, Incorporated, had 800 units of inventory on hand at March 1 of the current year, costing $20 each. Purchases and sales of inventory during the month of March were as follows: Date March 8 March 15 March 22 March 27 Purchases 400 units @ $22 each 400 units @ $24 each Sales 600 units 400 units Sanfillipo uses the periodic inventory system. According to a physical count, 600 units were on hand at the end of March. The cost of goods sold for March applying the FIFO method is:
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