Problem 5-3A (Algo) Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 Units Sold at Retail Activities Beginning inventory February 10 March 13 Purchase Purchase March 15 Sales August 21 September 5 Purchase Purchase September 10 Sales Totals Units Acquired at Cost 600 units @ $40 per unit 400 units @$37 per unit 190 units @$15 per unit 190 units @$45 per unit 550 units @ $43 per unit 1,930 units 805 units @ $70 per unit 740 units @ $70 per unit 1,545 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale Number of units available for sale 2. Compute the number of units in ending inventory. Ending inventory units units

Problem 5-3A (Algo) Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 Units Sold at Retail Activities Beginning inventory February 10 March 13 Purchase Purchase March 15 Sales August 21 September 5 Purchase Purchase September 10 Sales Totals Units Acquired at Cost 600 units @ $40 per unit 400 units @$37 per unit 190 units @$15 per unit 190 units @$45 per unit 550 units @ $43 per unit 1,930 units 805 units @ $70 per unit 740 units @ $70 per unit 1,545 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale Number of units available for sale 2. Compute the number of units in ending inventory. Ending inventory units units

Name: Problem 5-3A (Algo) Perpetual: Alternative cost flows LO P1Montoure C
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Description: Problem 5-3A (Algo) Perpetual: Alternative cost flows LO P1Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions.DateActivitiesJanuary 1Beginning inventoryFebruary 10Purchase

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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Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Date March 1 March 5 Complete this question by entering your answers in the tabs below. Total March 5 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. March 9 Problem 5-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Total March 9 March 18 Total March 18 March 25 Activities Total March 25 Beginning…
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Need to solve Perpetual FIFO, LIFO, Weight average and Specific identification.
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