Splish Brothers Company sells discounted shoes to the fashion-oriented consumer. The following schedule relates to the...

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Splish Brothers Company sells discounted shoes to the fashion-oriented consumer. The following schedule relates to the company's inventory for the month of March: Cost Sales March 1 Beginning inventory 3,540 units $104,430 7 Purchase 1,180 units 47,200 8 Purchase 1,770 units 88,500 15 Sale 4,130 units $371,700 20 20 Sale 826 units 61,950 25 Purchase 590 units 17,582 27 Sale 1,416 units 84,960 Splish Brothers Company uses the perpetual inventory system. (a) * Your answer is incorrect. Calculate Splish Brothers Company's cost of goods sold, gross margin, and ending inventory using: i. FIFO ii. Weighted-average (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to O decimal places, e.g. 61,052.) FIFO Weighted- average 14 Cost of Goods Sold eTextbook and Media 194530 D 193452 0 A SA Gross Margin 236180 0 237258 0 [$]]] LA Ending Inventory 1950 2058 Splish Brothers Company sells discounted shoes to the fashion-oriented consumer. The following schedule relates to the company's inventory for the month of March: Cost Sales March 1 Beginning inventory 3,540 units $104,430 7 Purchase 1,180 units 47,200 8 Purchase 1,770 units 88,500 15 Sale 4,130 units $371,700 20 20 Sale 826 units 61,950 25 Purchase 590 units 17,582 27 Sale 1,416 units 84,960 Splish Brothers Company uses the perpetual inventory system. (a) * Your answer is incorrect. Calculate Splish Brothers Company's cost of goods sold, gross margin, and ending inventory using: i. FIFO ii. Weighted-average (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to O decimal places, e.g. 61,052.) FIFO Weighted- average 14 Cost of Goods Sold eTextbook and Media 194530 D 193452 0 A SA Gross Margin 236180 0 237258 0 [$]]] LA Ending Inventory 1950 2058

Answer rating: 100% (QA)

To calculate the cost of goods sold gross margin and ending inventory using FIFO and weightedaverage methods we need to follow these steps FIFO Method ... View the full answer