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PA11. LO 10.3 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). Number of Units Unit Cost Sales Beginning inventory Sold 240 $100 160 $140 Purchased Sold Purchased 520 103 400 142 400 110 Sold 370 144 Ending inventory 230

PA11. LO 10.3 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). Number of Units Unit Cost Sales Beginning inventory Sold 240 $100 160 $140 Purchased Sold Purchased 520 103 400 142 400 110 Sold 370 144 Ending inventory 230

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Can anyone help me these question, PA11 and PA12?

 

**PA11. LO 10.3** 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). **Transaction Data:** | Transaction | Number of Units | Unit Cost | Sales | |---------------------|-----------------|-----------|-------| | Beginning inventory | 240 | $100 | | | Sold | 160 | | $140 | | Purchased | 520 | $103 | | | Sold | 400 | | $142 | | Purchased | 400 | $110 | | | Sold | 370 | | $144 | | Ending inventory | 230 | | | **PA12. LO 10.3** Compare the calculations for gross margin for A76 Company, based on the results of the perpetual inventory calculations using FIFO, LIFO, and AVG. --- In the table, there are transactions listed for A76 Company including beginning inventory, sales, and purchases. Each transaction indicates the number of units, unit cost when applicable, and sales revenue when a sale occurs. The final row indicates the ending inventory. The task requires calculating various financial metrics using three inventory costing methods: FIFO (First In, First Out), LIFO (Last In, First Out), and Average (Weighted Average Cost).
Transcribed Image Text:**PA11. LO 10.3** 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). **Transaction Data:** | Transaction | Number of Units | Unit Cost | Sales | |---------------------|-----------------|-----------|-------| | Beginning inventory | 240 | $100 | | | Sold | 160 | | $140 | | Purchased | 520 | $103 | | | Sold | 400 | | $142 | | Purchased | 400 | $110 | | | Sold | 370 | | $144 | | Ending inventory | 230 | | | **PA12. LO 10.3** Compare the calculations for gross margin for A76 Company, based on the results of the perpetual inventory calculations using FIFO, LIFO, and AVG. --- In the table, there are transactions listed for A76 Company including beginning inventory, sales, and purchases. Each transaction indicates the number of units, unit cost when applicable, and sales revenue when a sale occurs. The final row indicates the ending inventory. The task requires calculating various financial metrics using three inventory costing methods: FIFO (First In, First Out), LIFO (Last In, First Out), and Average (Weighted Average Cost).
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