Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at...
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Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost 70 units 96 units 120 units 32 unite 316 unite Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Required: The company uses a perpetual inventory system. Complete this question by entering your answers in the tabs below. June 30 Activities Beginning inventory Bales Purchase Sales Purchase Sales Purchase Totals Date January 1 January 3 February 14 Total February 14 February 15 Total February 15 a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO c. Compute the gross profit for each method. Required A Required 8 Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Cost of Goods Sold Total June 30 November 6 Goods Purchased of units Cost per # of units unit sold 94 at $ 3.00 120 at $ 4.00 42 at 90 $2 - $ 140 853 $282 04- $400 #55-160 at $ 1,062 $ 3.00 Cost per Cost of Goods unit Sold . Unita Sold at Retail 42 unita 90 units 104 units 0.00 236 unita Inventory Balance Cost per unit $ 2.00 #of units 70 at *** 458 at 94 at $ 3.00- 120 at Inventory Balance $ 4.00 $140.00 282.00 $ 282.00 480.00 $ 480,00 28 February 15 June 30 November 6 November 19 Required: The company uses a perpetual inventory system. January 1 January 3 June 30 Date February 14 Total February 14 Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Cost of Goods Sold February 15 Total February 15 a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method. Complete this question by entering your answers in the tabs below. Total June 30 November 6 Totals Sales Purchase Sales Purchase Totals Total November 6 November 19 Goods Purchased # of units Cost per # of units sold 94 at $ 3.00 120 at $4.00 32 at $5.00 42 at 120 units 32 unite 316 unite 90 at 54-5480 55-160 at $ 3.00 = Cost per Cost of Goods unit Sold $ 4,00 . $ 1,062 $ Regie A 0.00 0.00 10 unite 0.00 104 units 236 unite Inventory Balance Cost per unit $ 2.00 of units 70 at at 58 94 at $ 3.00 - 120 at $ 4.00 $ 4.00 at $ 4.00 32 at $5.00 Required B > Inventory Balance $ 140.00 282.00 $ 282.00 480.00 $ 480.00 160.00 $ 160.00 st February 15 June 30 November 6 November 19 Required: The company uses a perpetual inventory system. Complete this question by entering your answers in the tabs below. January 1 January 3 Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO Cost of Goods Sold Date February 14 Total February 14 June 30 a. Determine the costs assigned to ending Inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method. February 15 Total February 15 Total June 30 Sales Purchase Sales Purchase Totals November 6 Total November 6 Totals November 19 120 units 32 units 316 units $4$ 480 55 $160 $ 1,062 Goods Purchased Cost per # of units of units unit sold Cost per Cost of Goods unit Sold $ 0.00 90 units <Required A 104 units 236 unita Inventory Balance Cost per Inventory unit Balance #of units Required C > Saved Required information [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Date. January 11 January 31 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales. Purchase Totals Required: The company uses a perpetual inventory system. Sales revenue Cost of goods sold Gross profit Required A Required B Required C Compute the gross profit for each method. $ Complete this question by entering your answers in the tabs below. FIFO 0 $ Units Acquired at Cost Units Sold at Retail 70 units @ $2$ 140 @$8 @ $3$ 282 @ $4 $480 e $5 $160 $ 1,062 LIFO 94 units 120 units a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method. < Required B 32 units 316 units 42 units Required C > 90 units 104 units 236 units @$8 @ $8 Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost 70 units 96 units 120 units 32 unite 316 unite Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Required: The company uses a perpetual inventory system. Complete this question by entering your answers in the tabs below. June 30 Activities Beginning inventory Bales Purchase Sales Purchase Sales Purchase Totals Date January 1 January 3 February 14 Total February 14 February 15 Total February 15 a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO c. Compute the gross profit for each method. Required A Required 8 Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Cost of Goods Sold Total June 30 November 6 Goods Purchased of units Cost per # of units unit sold 94 at $ 3.00 120 at $ 4.00 42 at 90 $2 - $ 140 853 $282 04- $400 #55-160 at $ 1,062 $ 3.00 Cost per Cost of Goods unit Sold . Unita Sold at Retail 42 unita 90 units 104 units 0.00 236 unita Inventory Balance Cost per unit $ 2.00 #of units 70 at *** 458 at 94 at $ 3.00- 120 at Inventory Balance $ 4.00 $140.00 282.00 $ 282.00 480.00 $ 480,00 28 February 15 June 30 November 6 November 19 Required: The company uses a perpetual inventory system. January 1 January 3 June 30 Date February 14 Total February 14 Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Cost of Goods Sold February 15 Total February 15 a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method. Complete this question by entering your answers in the tabs below. Total June 30 November 6 Totals Sales Purchase Sales Purchase Totals Total November 6 November 19 Goods Purchased # of units Cost per # of units sold 94 at $ 3.00 120 at $4.00 32 at $5.00 42 at 120 units 32 unite 316 unite 90 at 54-5480 55-160 at $ 3.00 = Cost per Cost of Goods unit Sold $ 4,00 . $ 1,062 $ Regie A 0.00 0.00 10 unite 0.00 104 units 236 unite Inventory Balance Cost per unit $ 2.00 of units 70 at at 58 94 at $ 3.00 - 120 at $ 4.00 $ 4.00 at $ 4.00 32 at $5.00 Required B > Inventory Balance $ 140.00 282.00 $ 282.00 480.00 $ 480.00 160.00 $ 160.00 st February 15 June 30 November 6 November 19 Required: The company uses a perpetual inventory system. Complete this question by entering your answers in the tabs below. January 1 January 3 Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO Cost of Goods Sold Date February 14 Total February 14 June 30 a. Determine the costs assigned to ending Inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method. February 15 Total February 15 Total June 30 Sales Purchase Sales Purchase Totals November 6 Total November 6 Totals November 19 120 units 32 units 316 units $4$ 480 55 $160 $ 1,062 Goods Purchased Cost per # of units of units unit sold Cost per Cost of Goods unit Sold $ 0.00 90 units <Required A 104 units 236 unita Inventory Balance Cost per Inventory unit Balance #of units Required C > Saved Required information [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Date. January 11 January 31 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales. Purchase Totals Required: The company uses a perpetual inventory system. Sales revenue Cost of goods sold Gross profit Required A Required B Required C Compute the gross profit for each method. $ Complete this question by entering your answers in the tabs below. FIFO 0 $ Units Acquired at Cost Units Sold at Retail 70 units @ $2$ 140 @$8 @ $3$ 282 @ $4 $480 e $5 $160 $ 1,062 LIFO 94 units 120 units a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method. < Required B 32 units 316 units 42 units Required C > 90 units 104 units 236 units @$8 @ $8
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