?-My Courses-Blackboard xy B connect e Accounting question l CI x × Chapter 5 Ha
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?-My Courses-Blackboard xy B connect e Accounting question l CI x × Chapter 5 Hamework Help Save & Exit Submie Chack my work 3 Required information he roioing iitomation apoies to the questions displayed below erning Co repored the folkewing currel year purchase: and sa es fo its only produc 125 Units Acquired at Cost Units Sold st Retsi1 312. -? 3, 224 517.49-7,308 522.40-ie, 304 527.48-4.394 1 Bzinning imventory 13 Soles 260 units 420 units 460 units 215 units 300 units 425 units $42.40 $42.40 $42.40 Purchase 15 Soles ly3 Purchase 160 units Total 25, 220 2,82 units Roquirad Hemming uees a perpetal inventory system. 1. Celemine the cusls assigned to ending irivenlury and lu cost of gouds sul sg FiFO. 2. Determine the costs assigned to ending inventory and to cost or goods sold using LIFO. 3. Compute the gross margin for FFO method and LIFO metho Corriplete this questivs by enteriny your answers in the below lubs Required? Raqulrad2 Required 3 Perpatual FIFC: Goods Purchasec Inventory Halance suld unil 212.40 S 3,2240 4:18 O Type here to search 1/2018Explanation / Answer
Perpetual FIFO
Date
Goods Purchased
Cost of goods sol
Inventory Balance
# of Units
Cost per unit
Total Cost
# of Units
Cost per unit
Cost of goods sold
# of Units
Cost per unit
Inventory Balance
Jan 1
260
12.40
3,224
Jan 10
215
12.40
2,666
45
12.40
558
Mar 14
420
17.40
7,308
45
12.40
558
420
17.40
7,308
Mar 15
45
12.40
558
85
17.40
1,479
335
17.40
5,829
July 30
460
22.40
10,304
85
17.40
1,479
460
22.40
10,304
Oct 5
85
17.40
1,479
120
22.40
2,688
340
22.40
7,616
Oct 26
160
27.40
4,384
120
22.40
2,688
160
27.40
4,384
TOTAL
18,148
280
7,072
Date
Goods Purchased
Cost of goods sol
Inventory Balance
# of Units
Cost per unit
Total Cost
# of Units
Cost per unit
Cost of goods sold
# of Units
Cost per unit
Inventory Balance
Jan 1
260
12.40
3,224
Jan 10
215
12.40
2,666
45
12.40
558
Mar 14
420
17.40
7,308
45
12.40
558
420
17.40
7,308
Mar 15
45
12.40
558
85
17.40
1,479
335
17.40
5,829
July 30
460
22.40
10,304
85
17.40
1,479
460
22.40
10,304
Oct 5
85
17.40
1,479
120
22.40
2,688
340
22.40
7,616
Oct 26
160
27.40
4,384
120
22.40
2,688
160
27.40
4,384
TOTAL
18,148
280
7,072
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