Question

Activities Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Units Acquired at Cost 22e units $53.40 per unit 285 units $58.40 per unift Units Sold at Retail 38e units $88.40 per unit 145 units $63.40 per unit 270 units $65.40 per unit 25e units $98.4e per unit Totals 92e units 630 units . Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO, (c) welghted average, and (d) specific Identification. For pecific Identification, the March 9 sale consisted of 125 units from beginning Inventory and 255 units from the March 5 purchase; the March 29 sale consisted of 105 units from the March 18 purchase and 145 units from the March 25 purchase Complete this questions by entering your answers in the below tabs. WeightedSpecific Id Average Perpetual FIFO Perpetual LIFO Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual Goods Purchased Cost of Goods Sold Inventory Balance #of units Cost per | unit # of units sold | Cost per | Cost of Goods | #0f units Cost per -unit Inventory Date unit Sold March 1 220 $53.40$11,748.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals S 0.00 < Perpetual UFO Specific ld

Answer 1

Weighted Average Method
		Goods Purchased			Cost of Goods Sold			Inventory Balance
Date		Units	Cost per Unit	Amount	Unit	Cost per Unit	Cost of Goods Sold	Unit	Cost per Unit	Inventory Balance
01-Mar								220	$53.40	$11,748.00
05-Mar		285	$58.40	$16,644.00				505	$56.22	$28,392.00
09-Mar					380	$56.22	$21,364.28	125	$56.22	$7,027.72
18-Mar		145	$63.40	$9,193.00				270	$60.08	$16,220.72
25-Mar		270	$65.40	$17,658.00				540	$62.74	$33,878.72
29-Mar					250	$62.74	$15,684.59	290	$62.74	$18,194.13
					630		$37,048.87	290	$62.74	$18,194.13