Chapter 5, Problem 2.7C

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).

Use the last-in, first-out method (LIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for B75 Company, considering the following transactions.

Use the first-in, first-out (FIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.

Which inventory costing method is almost always done on a perpetual basis? A. specific identification B. first-in, first-out C. last-in, first-out D. weighted average

Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).

(The given is in the photo.) Required: 1. SHOW THE COMPUTATION OF SM-X NET SALES REVENUE. COST OF GOODS SOLD AND GROSS PROFIT FOR THE YEAR ENDED DEC 31 2020

Use the following date to answer the requirement of this item:Quantity (Product X) - 1,200.00Quantity (Product Y) - 1,800.00Purchase cost per unit (Product X) - 70.00Purchase cost per unit (Product Y) - 90.00Cash discount taken for both products – 10%Freight cost from supplier (Product X) 10.00Freight cost from supplier (Product Y) 30.00Estimated selling price (Product X) 120.00Estimated selling price (Product Y) 150.00Estimated selling costs (Product X) 22.00Estimated selling costs (Product Y) 35.00General and administrative (Product X) 15.00General and administrative (Product Y) 21.00Cost of goods sold per record – 385,800Inventory at year-end shall be carried at

Using the Cost of Goods Manufactured calculated in your sch cgm worksheet and adding data needed from the balance sheet, calculate the Cost of goods sold. Balance Sheet:   2/1/2021   2/29/2021 Cash $             200,000   $          1,595,310 AR $          1,000,000   $          1,487,096 Supplies $                20,000   $                20,000 Inventory RM $                75,860   $             296,190 Inventory WIP $             140,000   $             120,000 Inventory finished goods $             179,680   $             106,980 Equipment-office $                15,000   $                15,000 Accumulated depreciation $                (3,250)   $                (3,500) Equipment-sales $                10,000   $                10,000 Accumulated depreciation $                (2,167)   $                (2,333) Equipment-factory $                75,000   $                75,000 Accumulated depreciation $             (16,250)   $             (21,250)…