THE FOLLOWING IS THE SUMMARY OF TRANSACTIONS OF ABC CO. BEG INVENTORY SEPT 3 SEPT 6...

Transcribed Image Text:

THE FOLLOWING IS THE SUMMARY OF TRANSACTIONS OF ABC CO. BEG INVENTORY SEPT 3 SEPT 6 SEPT 11 SEPT 17 SEPT 21 SEPT 26 SEPT 30 2,200 UNITS @80/ UNIT PURCHASE 7,000 UNITS FOR 595,000 SOLD 8,200 UNITS FOR 984,000 PURCHASE 9,000 UNITS @ 83/ UNIT SOLD 5,300 UNITS FOR 609,500 SOLD 3,000 UNITS FOR 345,000 PURCHASE 5,500 UNITS @88/ UNIT SOLD 7,000 UNITS FOR 826,000 Requirements: 1. ENDING INVENTORY (UNITS) USING FIFO 2. COMPUTE FOR THE AMOUNT OF ENDING INVENTORY USING FIFO 3. COMPUTE FOR COST OF GOODS SOLD USING FIFO 4. COST PER UNIT OF ENDING INVENTORY USING FIFO 5. GROSS PROFIT USING FIFO 6. ENDING INVENTORY (UNITS) USING WEIGHTED AVERAGE METHOD 7. COMPUTE FOR THE AMOUNT OF ENDING INVENTORY USING WEIGHTED AVERAGE METHOD 8. COMPUTE FOR COST OF GOODS SOLD USING WEIGHTED AVERAGE METHOD 9. COST PER UNIT OF ENDING INVENTORY USING WEIGHTED AVERAGE METHOD 10. GROSS PROFIT USING WEIGHTED AVERAGE METHOD 11. ENDING INVENTORY (UNITS) USING WEIGHTED MOVING METHOD 12. COMPUTE FOR THE AMOUNT OF ENDING INVENTORY USING WEIGHTED MOVING METHOD 13. COMPUTE FOR COST OF GOODS SOLD USING WEIGHTED MOVING METHOD 14. COST PER UNIT OF ENDING INVENTORY USING WEIGHTED MOVING METHOD 15. GROSS PROFIT USING WEIGHTED MOVING METHOD THE FOLLOWING IS THE SUMMARY OF TRANSACTIONS OF ABC CO. BEG INVENTORY SEPT 3 SEPT 6 SEPT 11 SEPT 17 SEPT 21 SEPT 26 SEPT 30 2,200 UNITS @80/ UNIT PURCHASE 7,000 UNITS FOR 595,000 SOLD 8,200 UNITS FOR 984,000 PURCHASE 9,000 UNITS @ 83/ UNIT SOLD 5,300 UNITS FOR 609,500 SOLD 3,000 UNITS FOR 345,000 PURCHASE 5,500 UNITS @88/ UNIT SOLD 7,000 UNITS FOR 826,000 Requirements: 1. ENDING INVENTORY (UNITS) USING FIFO 2. COMPUTE FOR THE AMOUNT OF ENDING INVENTORY USING FIFO 3. COMPUTE FOR COST OF GOODS SOLD USING FIFO 4. COST PER UNIT OF ENDING INVENTORY USING FIFO 5. GROSS PROFIT USING FIFO 6. ENDING INVENTORY (UNITS) USING WEIGHTED AVERAGE METHOD 7. COMPUTE FOR THE AMOUNT OF ENDING INVENTORY USING WEIGHTED AVERAGE METHOD 8. COMPUTE FOR COST OF GOODS SOLD USING WEIGHTED AVERAGE METHOD 9. COST PER UNIT OF ENDING INVENTORY USING WEIGHTED AVERAGE METHOD 10. GROSS PROFIT USING WEIGHTED AVERAGE METHOD 11. ENDING INVENTORY (UNITS) USING WEIGHTED MOVING METHOD 12. COMPUTE FOR THE AMOUNT OF ENDING INVENTORY USING WEIGHTED MOVING METHOD 13. COMPUTE FOR COST OF GOODS SOLD USING WEIGHTED MOVING METHOD 14. COST PER UNIT OF ENDING INVENTORY USING WEIGHTED MOVING METHOD 15. GROSS PROFIT USING WEIGHTED MOVING METHOD