The following information relates to Larkspur Ltd.'s inventory transactions during the month of August. Units Cost/Unit...

 

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The following information relates to Larkspur Ltd.'s inventory transactions during the month of August. Units Cost/Unit Amount August 1 Beginning inventory 15 $1,900 $28,500 6 Purchase 35 $1,520 53,200 8 Sale 5 16 Purchase 10 $1,887 18,870 20 Sale 40 26 Purchase 5 $1,672 8,360 30 30 Sale 10 All of the units sold were priced at $3,800 per unit. (a) Larkspur Ltd. uses the perpetual inventory system. Calculate Larkspur's cost of goods sold, gross margin, and ending inventory for the month of August using: i. FIFO ii. Weighted-average (Round calculations for cost per unit to 4 decimal places, e.g. 10.5219 and final answers to 2 decimal places, e.g. 61,052.50.) i. FIFO ii. Weighted-average eTextbook and Media Cost of Goods Sold Gross Margin Ending Inventory The following information relates to Larkspur Ltd.'s inventory transactions during the month of August. Units Cost/Unit Amount August 1 Beginning inventory 15 $1,900 $28,500 6 Purchase 35 $1,520 53,200 8 Sale 5 16 Purchase 10 $1,887 18,870 20 Sale 40 26 Purchase 5 $1,672 8,360 30 30 Sale 10 All of the units sold were priced at $3,800 per unit. (a) Larkspur Ltd. uses the perpetual inventory system. Calculate Larkspur's cost of goods sold, gross margin, and ending inventory for the month of August using: i. FIFO ii. Weighted-average (Round calculations for cost per unit to 4 decimal places, e.g. 10.5219 and final answers to 2 decimal places, e.g. 61,052.50.) i. FIFO ii. Weighted-average eTextbook and Media Cost of Goods Sold Gross Margin Ending Inventory

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To calculate Larkspur Ltds cost of goods sold gross margin and ending inventory for the month of August using FIFO and weightedaverage methods we need ... View the full answer