Calculate the moving average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round moving average cost per unit answers to 3 decimal places, eg. 5.251) Moving Average Cost per unit January 1 January 5 January 8 January 10 January 15 Question 6 of 7 January 15 January 16 January 20 January 25 Save for Later $ (a2) $ $ e Textbook and Media eTextbook $ Cost of goods sold S Ending inventory Gross profit > S 20.75 20.75 20.75 21.681 21.681 21.619 21619 22.118 For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO. (2) FIFO. (3) Moving average cost. (Round average cost per unit to 3 decimal places, eg 12.502 and final answer to 0 decimal places, eg 1.250) LIFO Moving average FIFO Assistance Used $

Question Content Area Three identical units of merchandise were purchased during July, as follows: Date Product Basic H Units Cost July 3 Purchase 1 $20     10 Purchase 1   23     24 Purchase 1   26   Total 3 $69   Average cost per unit   $23 Assume one unit sells on July 28 for $34. Determine the gross profit, cost of goods sold, and ending inventory on July 31 using the (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost flow methods. Line Item Description Gross Profit Cost of Goods Sold Ending Inventory a. First-in, first-out $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 b. Last-in, first-out $fill in the blank 4 $fill in the blank 5 $fill in the blank 6 c. Weighted average $fill in the blank 7 $fill in the blank 8 $fill in the blank 9

W Using the specific identification method: Units purchased 15 Echo Show's 360 45 Echo Show's 360 60 Echo Show's 360 a. Calculate the cost of ending inventory. Date June 1 July 1 August 1 Ending inventory b. Calculate the cost of goods sold. Cost of goods sold Cost per unit $ 275 250 240

ces Date March 1 March 5 March 9 March 18 March 25 March 29 Problem 6-1A (Algo) Part 3 Perpetual FIFO Perpetual LIFO Date March 1 Complete this question by entering your answers in the tabs below. March 5 Weighted Average Compute the cost assigned to ending inventory using LIFO. Total March 5 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase. March 9 Total March 9 March 18 Total March 18 Units Acquired at Cost 90 units @ $50.80 per unit 220 units @ $55.80 per unit Goods Purchased # of units 80 units @ $60.80 per unit 140 units @ $62.80 per unit Specific Id 530 units Cost per # of units unit sold Perpetual LIFO: Cost of Goods Sold Cost per…