The beginning inventory at ABC Supplies and data on purchases and sales for a three-month period ending March 31, are as follows: (See attached dates/transactions/units/totals list attached)   1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record, using the first-in, first-out method. (I have attached an example of how the table should look as I had a hard time formatting the blank table I provided below) Date   Purchases     Cost of Merchandise sold     Inventory                         Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1                   10                   10                   28                   28                   30                   Feb. 5                   10                   10                   16                   16                   28                   Mar. 5                   5                   14                   14                   25                   25                   30                   30                   31 Balances                 2. Determine the total sales and the total cost of merchandise sold for the period. Journalize the entries in the sales and cost of merchandise sold accounts. Assume that all sales were on the account and date your journal entry March 31.  3. Determine the gross profit from sales for the period. 4. Determine the ending inventory cost as of March 31.

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The following data regarding purchases and sales of a commodity were taken from the related inventory account (perpetual inventory system is used):   May 1 Balance 25 units at $41         6 Sale 20 units         8 Purchase 20 units at $42       16 Sale 10 units       20 Purchase 20 units at $43       23 Sale 25 units       30 Purchase 15 units at $45   (a) Determine the total cost of the inventory balance at May 31, using the first-in, first-out method.  Also, identify the quantity, unit price, and total cost of each lot/layer in the ending inventory. (b) Determine the total cost of the inventory balance at May 31, using the last-in, first-out method.  Also, identify the quantity, unit price, and total cost of each lot/layer in the ending inventory.   (a) FIFO                       (b) LIFO

B66's transactions involving inventory for the month are shown below. Calculate the dollar amount of Sales, Cost of Goods Sold, Gross Margin and Ending Inventory using the three cost allocation methods (FIFO, LIFO, and Weighted Average) with perpetual inventory updating.   Number of Units Unit Cost Sales Beginning Inventory 100 $66   Sold 50    $120 Purchased 80  $75   Sold 25   $125 Ending Inventory 105     Show your calculations and clearly label your solution. Submit your work as an attachment to this assignment.

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Rapid Resources, which uses the FIFO inventory costing method, has the following account balances at July 31, 2025, prior to releasing the financial statements for the year: Merchandise Inventory, ending $ Cost of Goods Sold Net Sales Revenue Date 16,500 71,000 122,000 Jul. 31 Requirement 1. Prepare any adjusting journal entry required from the given information. (Record debits first, then credits. Select the explanation on the last line of the journal entry. For situations that do not require an entry, make sure to select "No entry required" in the first cell in the "Accounts" column and leave all other cells blank.) Accounts and Explanation Credit Rapid has determined that the current replacement cost (current market value) of the July 31, 2025, ending merchandise inventory is $13,500. Read the requirements. Debit 4

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[The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 units from beginning inventory. Date January 1 January 10 January 20 January 25 January 30 Assume the perpetual inventory system is used. Required: Activities Beginning inventory Sales Purchase Sales Purchase Totals Req 1 Req 2 to 4 Sales Cost of goods sold Gross profit Complete this question by entering your answers in the tabs below. Specific Identification $ LAKER COMPANY For Month Ended January 31 Weighted Average $ Units Acquired at Cost 185 units @ $11.00 = 5,600 100 units @ 1. Compute gross profit for the month of January for Laker Company for the four inventory methods. 2. Which method yields the highest gross profit? 3. Does gross profit using weighted average fall between that…

Required information [The following information applies to the questions displayed below.] Total Date March 1 March 5 March 9 March 18 March 25 March 29 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Beginning inventory Purchases: March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Saved Required: 1. Compute cost of goods available for sale and the number of units available for sale. # of units Cost per Unit Units Acquired at Cost 100 units @ $51.00 per unit 225 units @ $56.00 per unit 130 units @ $96.00 per unit 390 units Subn