Ch 9 Problem Set BProblem 9-1 Part BThe company uses the perpetual inventory method.It began the month of March with 100 units of inventory, at a unit cost of $55.Purchases during MarchMarch 5, 60 units at $60 each.March 18, 200 units at $65 eachMarch 29, 40 units at $75 each.Sales during MarchMarch 12, 60 units.March 25, 210 units.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.InventoryDateUnitsCost perTotal CostDateUnitsTotal CostUnitBeg BalanceUnitsCostBeginning Balance+ PurchasesGoods Available for Sale- SoldEnding Balance 2. Use the moving weighted average method to calculate the cost of goods sold for each sale,the total cost of goods sold for the month, and ending inventory.3. Assuming that the March 12 sale came from beginning inventory, and the March 25 sale wascomprised of 25 units from beginning inventory, all 60 units of the March 5 purchase, and theremainder from the March 18 purchase, use specific identification to the cost of goods sold foreach sale, the total cost of goods sold for the month, and ending inventory.

Calculation of weighted average cost per unit : Date Particulars Calculation Per Unit Cost…

The company uses the perpetual inventory method. It began the month of March with 100 units of inventory, at a unit cost of $55. Purchases during March March 5, 60 units at $60 each. March 18, 200 units at $65 each March 29, 40 units at $75 each. Sales during March March 12, 60 units. March 25, 210 units. All units were sold to customer for $100 each.

The company uses the perpetual inventory method. It began the month of March with 100 units of inventory, at a unit cost of $55. Purchases during March March 5, 60 units at $60 each. March 18, 200 units at $65 each March 29, 40 units at $75 each. Sales during March March 12, 60 units. March 25, 210 units. All units were sold to customer for $100 each.

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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