(For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.)ĭate Activities Units Acquired at Cost … … … Units Sold at Retail Mar. 1 Beginning inventory … … …. It entered into the following purchases and sales transactions for March. Warnerwoods Company uses a perpetual inventory system. If the company’s manager earns a bonus based on a percent of gross profit, which method of inventory costing will the manager likely prefer?.(For specific identification, the May 9 sale consisted of 80 units from beginning inventory and 100 units from the May 6 purchase the May 30 sale consisted of 200 units from the May 6 purchase and 100 units from the May 25 purchase.) Date It entered into the following calendar-year purchases and sales transactions. (Round all amounts to cents.)Ĭompute gross profit earned by the company for each of the four costing methods in part 3.Īloha Company uses a perpetual inventory system. (For specific identification, the April 9 sale consisted of 8 units from beginning inventory and 27 units from the April 6 purchase the April 30 sale consisted of 12 units from beginning inventory, 3 units from the April 6 purchase, and 10 units from the April 25 purchase.) DateĬompute cost of goods available for sale and the number of units available for sale.Ĭompute the number of units in ending inventory.Ĭompute the cost assigned to ending inventory using ( a) FIFO, ( b) LIFO, ( c) weighted average, and ( d) specific identification. It entered into the following purchases and sales transactions for April. Ming Company uses a perpetual inventory system.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |