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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
Problem 1Q
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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 Purchased Sold 240 $100 160 $140 520 103 400 142 Purchased Sold Ending inventory 400 110 370 144 230 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.
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). Number of Units Unit Cost Sales Beginning inventory Sold Purchased Sold 240 $100 160 $140 520 103 400 142 Purchased Sold Ending inventory 400 110 370 144 230 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.
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