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 $120 Sold 160 $160 Purchased 500 123 Sold 400 162 Purchased 420 130 Sold 370 194 Ending Inventory 250 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining #units Unit Cost Total Cost #units Total Cost Unit Cost #units Unit Cost Total Cost Beginning 260 V 120 V $ 31,200 Sale 160 100 120 Purchase 500 61,500 v 123 600 Sale 400 200 Purchase 420 130 54,600 620 Sale 370 v 250 V Total Purchases 116,100 v Total COGS Gross Margin, AVG perpetual

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 $120 Sold 160 $160 Purchased 500 123 Sold 400 162 Purchased 420 130 Sold 370 194 Ending Inventory 250 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining #units Unit Cost Total Cost #units Total Cost Unit Cost #units Unit Cost Total Cost Beginning 260 V 120 V $ 31,200 Sale 160 100 120 Purchase 500 61,500 v 123 600 Sale 400 200 Purchase 420 130 54,600 620 Sale 370 v 250 V Total Purchases 116,100 v Total COGS Gross Margin, AVG perpetual

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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