20:5 as a write-do 2. What increase in the value of its inventories such that there was a reversal 3. If at you what, how would Li Ning account for this? Explain. for the 20 PROBLEM SET A Problem 6-1A Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales Alternative cost transactions for March. flows-perpetual P1 Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory . . . . . . . . . . 50 units @ $50/unit Mar. 5 Purchase . . . .. 200 units @ $55/unit Mar. 9 Sales ... 210 units @ $85/unit Mar. 18 Purchase . 60 units @ $60/unit Mar. 25 Purchase 100 units @ $62/unit Mar. 29 Sales . . . . . 80 units @ $95/unit Totals 410 units 290 units Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. Check (3) Ending Inventory: FIFO. $7,400; WAC, $7,176 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) weighted average cost, and (c) specific identification. (Round per unit costs to three decimals, but inventory balances to the dollar.) For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 170 units from the March 5 purchase; the March 29 sale consisted of 20 units from the March 18 purchase and 60 units from the March 25 purchase. 4. Compute gross profit earned by the company for each of the three costing methods in part 3. Problem 6-2A Alternative cost Marlow Company uses a perpetual inventory system. During the year, it entered into the following pur flows-perpetual chases and sales transactions