Below is a series of cost of goods sold sections for companies B, M, O, and S. Fill in the lettered blanks to complete the cost of goods sold sections. B M Beginning inventory $ 280 $ 134 $ 784 Purchases 1,680 1,210 Purchase returns 90 (d) 325 and
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- 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).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).Compare the calculations for gross margin for B76 Company, based on the results of the perpetual inventory calculations using FIFO, LIFO, and 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 weighted-average (AVG) 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.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).
- Use the first-in, first-out method (FIFO) 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 last-in, first-out (LIFO) 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.Below is a series of cost of goods sold sections for companies B. M. O, and S. Fill in the lettered blanks to complete the cost of goods sold sections. Beginning inventory Purchases Purchase returns and allowances Net purchases Freight-in Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold B $ 305 1,830 98 159 2,196 378 (a) (b) (c) M $146 1.318 1.269 1,501 1,647 1,501 (d) (e) (f) O $854 354 9,040 9,821 1,403 9,272 (g) (h) (i) $ S 53,180 51,594 2,733 60,427 7,601 52,826 (i) (k) (1)
- Below is a series of cost of goods sold sections for companies W, X, Y, and Z. W W X Y Z Beginning inventory $150 $120 $700 $ (j) BLANK Purchases 1,600 1,080 (g) BLANK 43,590 Purchase returns and allowances 90 (d) BLANK 290 (k) BLANK Net purchases (a) BLANK 1,020 7,710 42,290 Freight-in 140 (e) BLANK (h) BLANK 2,240 Cost of goods purchased (b) BLANK 1,230 8,050 (l) BLANK Cost of goods available for sale 1,800 1,350 (i) BLANK 49,530 Ending inventory 310 (f) BLANK 1,150 6,230 Cost of goods sold (c) BLANK 1,230 7,600 43,300 InstructionsFill in the lettered blanks to complete the cost of goods sold sections.Wildhorse Co. is a retailer operating in Calgary, Alberta. Wildhorse uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Wildhorse for the month of January 2022. Date Description Quantity Unit Cost or Selling Price Dec. 31 Ending inventory 150 $ 20 Jan. 2 Purchase 100 21 Jan. 6 Sale 180 42 Jan. 9 Purchase 70 25 Jan. 10 Sale 60 42 Jan. 23 Purchase 112 26 Jan. 30 Sale 128 49Using the FIFO method, calculate the cost of ending inventory and cost of goods sold for Carden Corporation Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold The cost of ending inventory is The cost of goods sold is Unit Quantity Cost 70 130 200 50 $ 150 S Total $3.00 $210 $7.00 $910