Question: 5 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (c) weighted average, and (d) specific identification. (For specific identification, units



5 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (c) weighted average, and (d) specific identification. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 190 from the March 13 purchase, 140 from the August 21 purchase, and 315 from the September 5 purchase.) 3.57 points Answer is not complete. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Cost of Goods Sold Cost # of units sold per Cost of Goods Sold unit Goods Purchased Cost # of units per unit Date # of units Inventory Balance Cost per Inventory Balance unit $ $ 24,000.00 40.00 January 1 600 at February 10 Average February 10 March 13 Average March 13 March 15 August 21 Average August 21 September 5 Average September 5 September 10 Totals $ 0.00 5 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (C) weighted average, and (d) specific identification. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 190 from the March 13 purchase, 140 from the August 21 purchase, and 315 from the September 5 purchase.) 3.57 points Answer is not complete. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 190 from the March 13 purchase, 140 from the August 21 purchase, and 315 from the September 5 purchase.) Specific Identification: Cost of Goods Sold Date Date # of units sold Cost of Goods Sold # of units January 1 0 at S 0.00 600 at 600 at = Goods Purchased Cost # of units per unit $ 600 at 40.00 400 $ at 37.00 $ 190 15.00 $ 190 at 45.00 $ 550 at 43.00 1,930 22,200.00 = 400 at Cost per unit $ 40.00 $ 37.00 $ 15.00 $ 45.00 $ 43.00 Inventory Balance Cost per Inventory Balance unit $ 40.00 $ 24,000.00 $ 37.00 14,800.00 $ 15.00 2,850.00 $ 45.00 $ 43.00 0.00 $ 41,650.00 190 at February 10 March 13 August 21 September 5 Totals 2,850.00 190 X at = 140 at = 6,300.00 at 315 at = 13,545.00 at 1,245 S 44,895.00 1,190
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