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 420 140 Sold 370 204 Ending inventory 250 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Beginning Sale Purchase Sale Purchase 00 00
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 420 140 Sold 370 204 Ending inventory 250 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Beginning Sale Purchase Sale Purchase 00 00
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 40E: Identify items missing in determining cost of goods sold For (a) through (e), identify the items...
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