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Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Number of Units Unit Cost Sales Beginning inventory 260 $130 Sold 160 $170 Purchased 500 133 Sold 400 172 Purchased 380 140 Sold 370 204 Ending inventory 210 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Total Cost Beginning 260 V Sale 160 v 170 x 27,200 x 100 v Purchase 500 V 133 V $ 66,500v 100V 500 V Sale 400 V 172 x 68,800 x 200 X Purchase 380 V 140 V 53,200 V O x Sale

Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Number of Units Unit Cost Sales Beginning inventory 260 $130 Sold 160 $170 Purchased 500 133 Sold 400 172 Purchased 380 140 Sold 370 204 Ending inventory 210 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Total Cost Beginning 260 V Sale 160 v 170 x 27,200 x 100 v Purchase 500 V 133 V $ 66,500v 100V 500 V Sale 400 V 172 x 68,800 x 200 X Purchase 380 V 140 V 53,200 V O x Sale

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 10PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...
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Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).

Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Number of Units Unit Cost Sales Beginning inventory 260 $130 Sold 160 $170 Purchased 500 133 Sold 400 172 Purchased 380 140 Sold 370 204 Ending inventory 210 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Total Cost Beginning 260 V $ Sale 160 170 x 27,200 x 100 V Purchase 500 133 66,500 100 500 V Sale 400 172 X 68,800 X 200 x X Purchase 380 140 53,200 X Sale X
Transcribed Image Text:Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Number of Units Unit Cost Sales Beginning inventory 260 $130 Sold 160 $170 Purchased 500 133 Sold 400 172 Purchased 380 140 Sold 370 204 Ending inventory 210 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Total Cost Beginning 260 V $ Sale 160 170 x 27,200 x 100 V Purchase 500 133 66,500 100 500 V Sale 400 172 X 68,800 X 200 x X Purchase 380 140 53,200 X Sale X
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