Please help me with the Specific ID chart. Thank you to.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.c... Aework iRequired informationPerpetual FIFO Perpetual LIFODateMarch 1March 5March 18March 25TotalWeightedAverageCompute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 75 units from beginning inventory, 205units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase.Goods Available for Sale# of unitsSpecific Id0Cost perunitCost of GoodsAvailable forSale$$Specific Identification00000Saved# of unitssoldCost of Goods Sold< Prev0Cost perunit$< Weighted AverageCost ofGoods Sold0.00 $0.000.00S7 8$of 80000Ending InventoryCost perunit## of unitsin endinginventorySpecific id >0EndingInventory$ 0.00 $0.000.000.00Next >wor$000Help00Save & ExitDCheck Required informationProblem 5-1A (Algo) Perpetual: Alternative cost flows LO P1[The following information applies to the questions displayed below.]Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.DateMarch 1March 5March 9March 18March 25March 29ActivitiesBeginning inventoryPurchaseSalesPurchasePurchaseSalesTotalsProblem 5-1A (Algo) Part 3SavedUnits Acquired at Cost120 units @ $51.40 per unit235 units @ $56.40 per unit95 units170 units620 units@ $61.40 per unit@ $63.40 per unit.< PrevComplete this question by entering your answers in the tabs below.3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Forspecific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from theMarch 18 purchase, and 95 units from the March 25 purchase.78of 8Units Sold at Retail▬▬280 units @ $86.40 per unit150 units @ $96.40 per unit430 units.Next >

The specific identification methodology applies to the valuation of inventory, particularly…

Answered: Please help me with the Specific ID…

Business

Accounting

Please help me with the Specific ID chart. Thank you

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 41BE: ( Appendix 6B) Inventory Costing Methods: Periodic Inventory Systems. Refer to the information for...

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Perpetual inventory using LIFO Assume that the business in Exercise 6-3 maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4.
Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Date March 1 March 5 Complete this question by entering your answers in the tabs below. Total March 5 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. March 9 Problem 5-1A (Algo) Part 3 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 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Total March 9 March 18 Total March 18 March 25 Activities Total March 25 Beginning…
Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18. March 25 March 29 Gross Margin Sales Less: Cost of goods sold Gross profit Beginning inventory Purchase Sales Purchase Purchase. Activities Sales Totals $ $ FIFO Problem 5-1A (Algo) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) 40,570 $ 25.220 15,350 $ Units Acquired at Cost 210 units @ $53.20 per unit 280 units $58.20 per unit LIFO…
nces c raw Required information Problem 5-1A (Static) Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Problem 5-1A (Static) Part 4 Gross Margin Sales Less: Cost of goods sold Gross profit Units Acquired at Cost @ $50 per unit @ $55 per unit FIFO 100 units 400 units 120 units 200 units 820 units LIFO @ $60 per unit @ $62 per unit Prey 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. (Round weighted average cost per unit to 2 decimal…
Required information The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Harch 9. March 18 March 25 March 29 Total Perpetual FIFO Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Date March 1 March 5 March 18 March 25 Complete this question by entering your answers in the tabs below. Perpetual LIFO 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 80 units from beginning inventory. 340 units from the March 5 purchase. 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Weighted Average Goods Available for Sale # of units 400 120 200 720 Specific Id Compute the cost assigned to ending inventory using specific identification. For specific…
0 Required information. Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 11 March 5 March 9 March 18. March 25 March 29 Gross Margin Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Sales Less: Cost of goods sold Gross profit FIFO Units Acquired at Cost 160 units @ $52.20 per unit 255 units @ $57.20 per unit LIFO 115 units@ $62.20 per unit 210 units @ $64.20 per unit 740 units Problem 5-1A (Algo) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 95 units from beginning inventory, 225 units from the March 5 purchase, 75 units from the March 18 purchase, and 115 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and…
Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 Skip to question [The following information applies to the questions displayed below.]Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Weighted Average Sheet and Specific ID Sheets
Requi [The following Information applies to the questions displayed below.] Warnerwoods Company uses a perpetual Inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Perpetual FIFO Perpetual LIFO Date March 1 March 5 March 18 March 25 Total Complete this question by entering your answers in the tabs below. Weighted Average 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 105 units from beginning inventory. 235 units from the March 5 purchase, 85 units from the March 18 purchase, and 125 units from the March 25 purchase. Goods Available for Sale # of units Specific Id 0 Cost per unit Units Acquired at Cost @ $52.60 per unit @ $57.60 per unit 180 units 265 units Compute the cost assigned to…
es W Required information [The following information applies to the questions displayed below.] (a Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 here to search 2 March 25 March 29 Sales Less: Cost of goods sold Gross profit Gross Margin 13 # Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 140 units from beginning inventory, 270 units from the March 5 purchase, 120 units from the March 18 purchase, and 160 units, from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. 3 Ri $ FIFO $ 64,210 $ IDI 4 LIFO 99+ 15 % Units Acquired at Cost 250 units. @ $54.00 per unit 300 units @ $59.00 per unit 160 units 300 units 5 1,010 units 64,210 $ @…
EAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false Beginning inventory, purchases, and sales for an inventory item are as follows: Sept. 1 Beginning Inventory 22 units @ $12 5 Sale 12 units 17 Purchase 21 units @ $13 30 Sale 19 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale ar (b) the inventory on September 30. a. Cost of merchandise sold 391 b. Inventory, September 30 %$4 537 Previous Next 3:3 5/9/
! Required information Problem 6-2AA (Algo) Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase March 9 Sales March 18 March 25 March 29 Purchase Purchase Sales Units Acquired at Cost 125 units @ $60 per unit 425 units @$65 per unit 170 units @ $70 per unit 250 units @ $72 per unit Units Sold at Retail 445 units @ $95 per unit Totals 970 units 210 units @$105 per unit 655 units For specific identification, units sold include 80 units from beginning inventory, 365 units from the March 5 purchase, 65 units from the March 18 purchase, and 145 units from the March 25 purchase. Problem 6-2AA (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Note: Round your…
Required information [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals FIFO Required A Required B Required C Periodic Inventory System Required A Required B Complete this question by entering your answers in the tabs below. Required C Required A Required B Required C Compute the gross profit for each method. FIFO $ Units Acquired at Cost 170 units @ $2 = 264 units 0 $ 220 units Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Ending Cost of Goods Sold Inventory LIFO 72 units 726 units The company uses a periodic inventory system. a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost…