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) $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 (1) (k) (1)

Required:Hemming uses a periodic inventory system.  (a) Determine the costs assigned to ending inventory and to cost of goods sold using 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 first-in, first-out (FIFO).   Numberof Units Unit Cost Sales Beginning Inventory 260     $140        Sold 160        $180   Purchased 510     143        Sold 400        182   Purchased 420     150        Sold 370        184   Ending Inventory 260           FIFO (perpetual) Inventory   Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining   Numberof Units Unit Cost Total Cost Numberof Units Unit Cost Total Cost Numberof Units Unit Cost Total Cost Beginning             fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Sale       fill in the blank 4 $fill in the blank 5 $fill in the blank 6 fill in the blank 7 fill in the blank 8 fill in the blank 9 Purchase fill in the blank 10 $fill in the…

b) Complete the following table to show how FOB terms apply to merchandise inventory purchased by a merchandiser. FOB Term When does the title to the Who pays the goods transfer to the buyer? freight? Shipping Point Destination c) Journalize the following transaction for a merchandiser that uses the perpetual inventory system. Sold goods for cash of $1,200 and on account of $800. Total cost $1,500. Omit explanations.