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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 weighted average (AVG). Round "Unit Cost" answers to 2 decimal places and other answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning Inventory 260 $140 Sold 160 $180 Purchased 500 143 Sold 400 182 Purchased 400 150 Sold 370 214 Ending Inventory 230 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining #units Unit Cost Total Cost #units Unit Cost Total Cost #units Unit Cost Total Cost Beginning 260 v $ 140 V $ 36,400 V 160 V 140 v 22,400 140 V 14,000 V Sale 100 Purchase 500 V 143 V 71,500 600 Sale 142.5 V 400 57,000 200 Purchase 400 V 150 V 60,000 Sale 370 V 147.5 V 54,575 Total Purchases $ 131,500 Total COGS $ 133,975 v Gross Margin, AVG perpetual Sales $ 180,780 COGS 133,975 V Gross Margin

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 weighted average (AVG). Round "Unit Cost" answers to 2 decimal places and other answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning Inventory 260 $140 Sold 160 $180 Purchased 500 143 Sold 400 182 Purchased 400 150 Sold 370 214 Ending Inventory 230 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining #units Unit Cost Total Cost #units Unit Cost Total Cost #units Unit Cost Total Cost Beginning 260 v $ 140 V $ 36,400 V 160 V 140 v 22,400 140 V 14,000 V Sale 100 Purchase 500 V 143 V 71,500 600 Sale 142.5 V 400 57,000 200 Purchase 400 V 150 V 60,000 Sale 370 V 147.5 V 54,575 Total Purchases $ 131,500 Total COGS $ 133,975 v Gross Margin, AVG perpetual Sales $ 180,780 COGS 133,975 V Gross Margin

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 11PA: 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 weighted average (AVG). Round "Unit Cost" answers to 2 decimal places and other answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning Inventory 260 $140 Sold 160 $180 Purchased 500 143 Sold 400 182 Purchased 400 150 Sold 370 214 Ending Inventory 230 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining #units Unit Cost Total Cost #units Unit Cost Total Cost #units Unit Cost Total Cost Beginning 260 V 140 V $ 36,400 v Sale 160 140 V 22,400 V 100 V 140 V 14,000 Purchase 500 143 V 71,500 600 Sale 400 v 142.5 V 57,000 V 200 V Purchase 400 v 150 60,000 Sale 370 v 147.5 V 54,575 V Total Purchases $ 131,500 v Total COGS 133,975 V Gross Margin, AVG perpetual Sales $ 180,780 v COGS 133,975 V Gross Margin
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 weighted average (AVG). Round "Unit Cost" answers to 2 decimal places and other answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning Inventory 260 $140 Sold 160 $180 Purchased 500 143 Sold 400 182 Purchased 400 150 Sold 370 214 Ending Inventory 230 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining #units Unit Cost Total Cost #units Unit Cost Total Cost #units Unit Cost Total Cost Beginning 260 V 140 V $ 36,400 v Sale 160 140 V 22,400 V 100 V 140 V 14,000 Purchase 500 143 V 71,500 600 Sale 400 v 142.5 V 57,000 V 200 V Purchase 400 v 150 60,000 Sale 370 v 147.5 V 54,575 V Total Purchases $ 131,500 v Total COGS 133,975 V Gross Margin, AVG perpetual Sales $ 180,780 v COGS 133,975 V Gross Margin
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