Question: PART ONE: a. using the weighted average perpetual inventory method. b. using the LIFO perpetual inventory method. c. using the FIFO perpetual inventory method. March

PART ONE:

a. using the weighted average perpetual inventory method.

b. using the LIFO perpetual inventory method.

c. using the FIFO perpetual inventory method.

March beginning inventory is 5 units at $6 per unit.

March 3: 15 units were purchased at $7 per unit. March 11: 10 units were purchased at $9 per unit.

March 15: 20 units were sold at $15 per unit.

March 18: 35 units were purchased at $10 per unit. March 31: 30 units were sold at $20 per unit.

PART TWO :

1) compute the cost of goods sold on March 15 and March 31 for a, b, c.

2) compute the ending inventory for a, b, c.

3) make the journal entries necessary for March 15 and March 31 for a. b. c.

CALCULATE JOURNAL ENTRIES FROM ABOVE INFORMATION:

JOURNAL ENTRIES:

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