ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 10 17 24 월요일 31 4 11 18 25 화요일 5 12 19 26 March 수요일 6 13 20 27 목요일 7 14 21 28 금요일 8 15 22 29 Purchase 100 units $50 each 토요일 √ 이 항목만 유지 ㅇ 제외 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 화요일 12 19 26 March 수요일 Purchase 400 units $55 each 13 20 27 목요일 7 14 21 28 금요일 1 8 15 22 29 토요일 2 9 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 화요일 5 12 19 26 March 수요일 6 13 20 27 목요일 7 14 21 28 금요일 1 8 15 22 29 토요일 2 Sales 420 units $85 each 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 Purchase. 120 units $60 each 화요일 5 12 19 26 March 수요일 6 13 20 27 목요일 14 21 28 금요일 1 8 15 22 29 토요일 2 9 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 Purchase 200 units $62 each 화요일 5 12 19 March 수요일 6 13 20 27 목요일 7 14 21 28 금요일 1 8 15 22 29 토요일 2 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 화요일 5 12 19 26 March 수요일 6 13 20 27 목요일 7 14 21 28 금요일 1 8 15 22 29 Sales 160 units $95 each 토요일 2 9 16 23 30 1. Compute the cost assigned to ending inventory using FIFO. 2. Compute the cost assigned to ending inventory using LIFO. 3. Compute the cost assigned to ending inventory using Weighted Average. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Date March 1 March 5 March 9. March 18 March 25 March 29 Totals Goods Purchased # of units 100 @ Cost per unit 50.00 S # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold = Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Date March 1 March 5 March 9 March 18 March 25 March 29 Totals Goods Purchased # of units 100 @ Cost per unit $ 50.00 # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold < Required 1 # of units 100 @ Inventory Balance Cost per unit Inventory Balance 5,000.00 $ 50.00 = $ Required 3 > Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using Weighted Average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Date March 1 March 5 Average March 9 March 18 Average March 25 March 29 Totals Goods Purchased # of units 100 @ Cost per unit $ 50.00 # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold < Required 2 # of units 100 @ Inventory Balance Cost per unit Inventory Balance $ 50.00 = $ 5,000.00 Required 3 > ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 10 17 24 월요일 31 4 11 18 25 화요일 5 12 19 26 March 수요일 6 13 20 27 목요일 7 14 21 28 금요일 8 15 22 29 Purchase 100 units $50 each 토요일 √ 이 항목만 유지 ㅇ 제외 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 화요일 12 19 26 March 수요일 Purchase 400 units $55 each 13 20 27 목요일 7 14 21 28 금요일 1 8 15 22 29 토요일 2 9 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 화요일 5 12 19 26 March 수요일 6 13 20 27 목요일 7 14 21 28 금요일 1 8 15 22 29 토요일 2 Sales 420 units $85 each 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 Purchase. 120 units $60 each 화요일 5 12 19 26 March 수요일 6 13 20 27 목요일 14 21 28 금요일 1 8 15 22 29 토요일 2 9 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 Purchase 200 units $62 each 화요일 5 12 19 March 수요일 6 13 20 27 목요일 7 14 21 28 금요일 1 8 15 22 29 토요일 2 16 23 30 ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. 일요일 Legend No Purchases or Sales Purchases Sales 3 10 17 24 월요일 31 4 11 18 25 화요일 5 12 19 26 March 수요일 6 13 20 27 목요일 7 14 21 28 금요일 1 8 15 22 29 Sales 160 units $95 each 토요일 2 9 16 23 30 1. Compute the cost assigned to ending inventory using FIFO. 2. Compute the cost assigned to ending inventory using LIFO. 3. Compute the cost assigned to ending inventory using Weighted Average. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Date March 1 March 5 March 9. March 18 March 25 March 29 Totals Goods Purchased # of units 100 @ Cost per unit 50.00 S # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold = Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Date March 1 March 5 March 9 March 18 March 25 March 29 Totals Goods Purchased # of units 100 @ Cost per unit $ 50.00 # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold < Required 1 # of units 100 @ Inventory Balance Cost per unit Inventory Balance 5,000.00 $ 50.00 = $ Required 3 > Required 1 Required 2 Required 3 Compute the cost assigned to ending inventory using Weighted Average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Date March 1 March 5 Average March 9 March 18 Average March 25 March 29 Totals Goods Purchased # of units 100 @ Cost per unit $ 50.00 # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold < Required 2 # of units 100 @ Inventory Balance Cost per unit Inventory Balance $ 50.00 = $ 5,000.00 Required 3 >
Expert Answer:
Answer rating: 100% (QA)
FIFO Goods purchased Cost of goods sold Perpetual Ending Inventory Date No of units Cost per units N... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
Sheila Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for May. Required 1. Compute cost of goods available for sale and the number of units...
-
Ammons Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for January. Required 1. Compute cost of goods available for sale and the number of...
-
Marlow Company uses a perpetual inventory system. It entered into the following calendar-year 2011 purchases and sales transactions. Required 1. Compute cost of goods available for sale and the...
-
R and Q form equal partnership RQ on February 15. Partner R has a tax year ending on July 31, whereas partner Qs tax year ends on October 31. What taxable year must the partnership use? a. February...
-
Assess the usefulness of activity-based costing in managerial decision making.
-
The function copyHalf copied the top half of the picture into the bottom half. Write a new function copyUpHalf that copies the bottom half of the picture into the top.
-
What factors are commonly considered when selecting a checking account?
-
The controller of the plant of Berry Building Supplies prepared a graph of the unit costs from the job cost reports for Product X-S1. The graph appeared as follows: How would you interpret this...
-
2-4. Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. Sales $600,000 Shares outstanding 100,000 Cost of goods sold...
-
Tires for Less is a franchise of tire stores throughout the greater Northwest. It has projected the following unit sales per tire and costs of tires for the coming year: The company policy is to have...
-
Required information [The following Information applies to the questions displayed below.) Cheese Factory Incorporated reported the following Information for the fiscal year ended August 31, 2018....
-
Find the expected value of buying the extended warranty. The expected value of buying the extended warranty is . A new flat - screen TV comes with a 1 - year warranty wh ich completely covers any...
-
An Olympic runner is coming to visit your school. You have been told that a world class race has two stages. In the first stage, the runner accelerates at a constant rate until he reaches maximum...
-
Question 3(15 marks) An investor holds 100,000 units of a bond whose features per bond are summarized in the following table. She wishes to be hedged against a rise in interest rates. Maturity Coupon...
-
12. In a professional cycling race, competitors (the "peloton") begin the race by riding 45.0 km north, then the road turns west by 37 for the next 50.0 km, before turning due west for the final 35.0...
-
Whateva Ltd uses a flexible budget and standard costs to aid planning and control of its machining manufacturing operations. The costing system for manufacturing has two direct cost categories...
-
ion 7 How are a company's total assets financed in terms of financial structure? yet answered ked out of 1.00 lag question a by short-term funds only b. by external funds only by short-term, long...
-
What is a manufacturing system?
-
Wheeling Computing sells merchandise for $12,000 cash on September 30 (cost of merchandise is $7,800). The sales tax law requires Wheeling to collect 6% sales tax on every dollar of merchandise sold....
-
Music City Center had the following petty cash transactions in March of the current year. March 5 Wrote a $300 check, cashed it, and gave the proceeds and the petty cashbox to Abby Rode, the petty...
-
The following financial statement information is from five separate companies. Required 1. Answer the following questions about Company V: a. What is the amount of equity on December 31, 2010? b....
-
In addition to a tragic loss of life, the terrorist attacks in the United States on September 11, 2001, severely disrupted the nations commercial, financial, and transportation activities. The effect...
-
In establishing new rules for segment reporting, the FASB considered exempting companies from pro viding segment disclosures if such disclosure would result in competitive harm for the company. The...
-
Some firms experience material seasonal variations in revenues. U.S. GAAP requires firms to disclose the seasonal nature of their activities in their interim financial statements. Search the FASBs...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App