Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Units Acquired at Cost 50 units @ $50.00/unit 200 units @ $55.00/unit 60 units @ $60.00/unit 100 units @ $62.00/unit 210 units @ $85.00/unit 80 units @ $95.00/unit Totals 410 units 290 units
4. value: 16.00 points 3. Compute the cost assigned to ending inventory using (a) FIFO,(b) weighted average cost, and (c) specific identification. For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 170 units from the March 5 purchase, the March 29 sale consisted of 20 units from the March 18 purchase and 60 units from the March 25 purchase. (Due to rounding, the sum of Cost of Goods Sold and Ending inventory may not equal the Cost of Good available for sales. Round your per unit costs to 3 decimal places and inventory balances to the nearest dollar amount. Omit the "$" sign in your response.) Ending Inventory (a) FIFO $ $ (b) Weighted average cost (c) Specific identification $ 5. value: 7.00 points 4. Compute gross profit earned by the company for each of the four costing methods. (Round your per unit costs to 3 decimal places and inventory balances and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Gross profit FIFO $ $ Weighted average Specific identification
. 2. value: 5.00 points Required: 1. Compute cost of goods available for sale and the number of units available for sale. (Omit the "$" sign in your response.) Cost of goods available for sale Number of units available for sale units 3. value: 3.00 points 2. Compute the number of units in ending inventory. Ending inventory units
[The following information applies to the questions displayed below.] Anthony [The following information applies to the questions displayed below.] Anthony Company uses a perpetual inventory system.
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