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 first in, first-out (FIFO). Number of Units Unit Cost Sales Beginning Inventory 240 $140 Sold 160 $180 Purchased 520 143 Sold 400 182 Purchased 380 150 Sold 370 184 Ending Inventory 210 FIFO (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 Sale Purchase Sale Purchase Sale Total Purchases Total COGS
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 first in, first-out (FIFO). Number of Units Unit Cost Sales Beginning Inventory 240 $140 Sold 160 $180 Purchased 520 143 Sold 400 182 Purchased 380 150 Sold 370 184 Ending Inventory 210 FIFO (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 Sale Purchase Sale Purchase Sale Total Purchases Total COGS
Chapter10: Inventory
Section: Chapter Questions
Problem 4PA: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering...
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