Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. calculate a) cost of goods sold, b) ending invento

Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76...

70.2K

Verified Solution

Question

Accounting

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).

Note: For negative amounts, input value beginning with a minus sign.

Number of Units Unit Cost Sales
Beginning Inventory 240 $150
Sold 160 $190
Purchased 520 153
Sold 400 192
Purchased 410 160
Sold 370 194
Ending Inventory 240

image

image

Gross Margin, FIFO perpetual Sales $ COGS Gross Margin $ FIFO (perpetual) Inventory Cost of Goods Sold Cost of Goods Purchased Cost of Inventory Remaining Number of Units Number of Units Number of Units Unit Cost Total Cost Unit Cost Total Cost Unit Cost Total Cost Beginning Sale Purchase Sale I 11 inch Purchase III II II Sale O Total Purchases Total COGS

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

A room has volume 100m3, and initially contains normal air. Every minute, 2m3 of gas is...

Statistics
1.2K views

distinguish between the exponential distribution and the poisson distribution

Psychology
1.2K views

7. How your identity scripts and attachment style may affect your understanding of romantic relationships. IF...

Advance Math
1.2K views

Find the coordinates of the point (x, y, z) on the plane z = 4...

Physics
1.2K views

Charge Q and 2Q are distributed uniformly on surface of two concentric spherical shells of...

Physics
1.2K views

Two men pull a rope from which a mass is hanging as shown Both apply...

Basic Math
1.2K views

Which of the answer choices given below is an equivalent expression for sin (3x) that...

Algebra
1.2K views

estimate the slope of the curve at the designated point

Algebra
1.2K views

polynomial of least possible degree having the graph shown 0 1 U f x Type...

Accounting
1.2K views

FinanceCo lent $8.3 million to Corbin Construction on January 1, 2021, to construct a playground....

Accounting
1.2K views

Dorsey Company manufactures three products from a common input in a joint processing operation. Joint...

Accounting
1.2K views

Pregunta 4.4. (TCO 7) Huron Corporation compra 60 000 diademas al ao. El plazo de...