Tableau DA 5-2: Exercise, Perpetual: Inventory costing methods LO P1

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.

March Sunday Monday Tuesday Wednesday Thursday Friday Saturday Legend No Purchases or Sales Purchases Sales 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 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: Goods Purchased # of Cost per units unit 100 @ $ 50.00 Date Cost of Goods Sold Cost per unit Cost of Goods Sold # of units sold # of units Inventory Balance Cost per unit Inventory Balance $ 50.00 - $ 5,000.00 March 1 100 @ March 5 400 @ $ 55.00 @ $ 50.00 55.00 This is a numeric cell, so please enter numbers only. March 9 March 18 March 25 March 29 Totals S 0.00 $ 0.00 March Sunday Monday Tuesday Wednesday Thursday Friday Saturday Legend No Purchases or Sales Purchases Sales 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 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: Goods Purchased # of Cost per units unit 100 @ $ 50.00 Date Cost of Goods Sold Cost per unit Cost of Goods Sold # of units sold # of units Inventory Balance Cost per unit Inventory Balance $ 50.00 - $ 5,000.00 March 1 100 @ March 5 400 @ $ 55.00 @ $ 50.00 55.00 This is a numeric cell, so please enter numbers only. March 9 March 18 March 25 March 29 Totals S 0.00 $ 0.00