omework 1
Date
March 1
March 5
Activities
Beginning inventory
Purchase
March 9
Sales
March 18
Purchase
March 25
Purchase
March 29
Sales
Totals
Units Acquired at Cost
90 units @ $50.80 per unit
220 units @ $55.80 per unit
80 units @ $60.80 per unit
140 units @ $62.80 per unit
530 units
Units Sold at Retail
250 units @ $85.80 per unit
120 units @ $95.80 per unit
370 units
Problem 5-1A (Algo) Part 3
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For
specific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the
March 18 purchase, and 80 units from the March 25 purchase.
Complete this question by entering your answers in the tabs below.
Perpetual FIFO Perpetual LIFO
Weighted
Averagespecific Id
Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 60 units from beginning inventory, 190
units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase.
Specific Identification
Goods Available for Sale
Cost of Goods Sold
Ending Inventory
Date
# of units
Cost per
unit
Cost of Goods
Available for
Sale
# of units
sold
Cost per
unit
Cost of
Goods Sold
# of units
in ending
Inventory
Cost per
unit
Ending
Inventory
March 1
March 5
March 18
$ 0
$ 0.00 $
0
$ 0.00 $
0
0
0.00
0
0.00
0
March 25
Total
0
00
0.00
0
0.00
0
0.00
0
0
0
0
Check my wo
