Question: How do I solve ? Compute the cost assigned to ending inventory using weighted average. Note: Round your average cost per unit to 2 decimal
How do I solve ?






Compute the cost assigned to ending inventory using weighted average. Note: Round your average cost per unit to 2 decimal places. 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places. 5. The company's manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? Specific Identification LIFO FIFO Weighted Average Problem 5-3A (Algo) Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. 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. Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using specific identification. (For specific identification, units sold consist of 540 units from beginning inventory, from the February 10 purchase, 100 from the March 13 purchase, 70 from the August 21 purchase, and 360 from the September 5 purchase.) 3. Compute the cost assigned to ending inventory using (a) FIFO, ( b ) LIFO, (c) weighted average, and ( d ) specific identification. (For specific identification, units sold consist of 540 units from beginning inventory, 220 from the February 10 purchase, 100 from the March 13 purchase, 70 from the August 21 purchase, and 360 from the September 5 purchase.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
