1
answer
0
watching
128
views
28 Sep 2019
WoodwardIndustries is a retailer. Assume that there are no credittransactions; all amounts are settled in cash. The followinginformation for the month of January 2017. Unit Cost or Date Description Quantity Selling Price Dec. 31 Ending inventory 172 $22 Jan. 2 Purchase 103 24 Jan. 6 Sale 179 41 Jan. 9 Purchase 68 26 Jan. 10 Sale 48 46 Jan. 23 Purchase 110 27 Jan. 30 Sale 132 49 a) Please calculate (fill in the blanks) GOCS andEnding Inventory using various inventory methods, under theperpetual costing system: Please put your final answers in the designatedcells below. You can you the next tab (worksheet) for calculationpurposes. COGS Ending Inventory Gross Profit Perpetual FIFO LIFO Weighted Average Note: Gross Profit = Revenue - COGS
WoodwardIndustries is a retailer. Assume that there are no credittransactions; all amounts are settled in cash. The followinginformation for the month of January 2017. | |||||||||
Unit Cost or | |||||||||
Date | Description | Quantity | Selling Price | ||||||
Dec. 31 | Ending inventory | 172 | $22 | ||||||
Jan. 2 | Purchase | 103 | 24 | ||||||
Jan. 6 | Sale | 179 | 41 | ||||||
Jan. 9 | Purchase | 68 | 26 | ||||||
Jan. 10 | Sale | 48 | 46 | ||||||
Jan. 23 | Purchase | 110 | 27 | ||||||
Jan. 30 | Sale | 132 | 49 | ||||||
a) | Please calculate (fill in the blanks) GOCS andEnding Inventory using various inventory methods, under theperpetual costing system: | ||||||||
Please put your final answers in the designatedcells below. You can you the next tab (worksheet) for calculationpurposes. | |||||||||
COGS | Ending Inventory | Gross Profit | |||||||
Perpetual | FIFO | ||||||||
LIFO | |||||||||
Weighted Average | |||||||||
Note: Gross Profit = Revenue - COGS | |||||||||
Lelia LubowitzLv2
28 Sep 2019