Please help me with FIFO AND COST METHOD PROBLEMS

Question 1(2 points)

Beginning Inventory -- 0 units

January Purchases: 1000 units @ $6 per unit

February Purchases: 800 units @ $8 per unit

March Sales: 800 units

Assuming the company uses Weighted Average Cost Method, what is the COGS for the March sales?

Question 1 options:

• 5511.11

• 4800

• 6000

• 7600

Question 2(2 points)

Beginning Inventory -- 0 units

January Purchases: 1000 units @ $6 per unit

February Purchases: 800 units @ $8 per unit

March Sales: 800 units

Assuming the company uses FIFO Method, what is the COGS for the March sales?

Question 2 options:

• 5511.11

• 4800

• 6000

• 7600

Question 3(2 points)

Beginning Inventory --200 units @ $150 per unit

January Purchases: 300 units @ $175 per unit

February Purchases: 500 units @ $200 per unit

March Sales: 800 units

Assuming the company uses Weighted Average Cost Method, what is the ending inventory value at the end of March?

Question 3 options:

• 40000

• 36500

• 30000

• 80000

Question 4(2 points)

Beginning Inventory: 200 units @ $150 per unit

January Purchases: 300 units @ $175 per unit

February Purchases: 500 units @ $200 per unit

March Sales: 800 units

Assuming the company uses FIFO Method, what is the ending inventory value at the end of March?

Question 4 options:

• 40000

• 36500

• 30000

• 80000

Question 5(2 points)

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ABC Company has a beginning merchandise inventory of $5000 and an ending merchandise inventory of$7000. It has a total sales of $60000 and a gross profit margin of 25%. Calculate the inventory turnover ratio

Question 5 options:

• 7.5

• 8

• 6

• 9.5