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  1. Business
  2. Accounting
  3. activities units acquired at cost 600 units 35 per unit...

Question: activities units acquired at cost 600 units 35 per unit...

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Activities Units Acquired at Cost 600 units $35 per unit 300 units $32 per unit 150 units $20 per unit Units Sold at Retail Date Jan Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales 725 units $80 per unit 190 units $40 per unit 540 units $37 per unit 730 units $80 per unit 1,455 units Totals 1,780 units Required: 1. Compute cost of goods available for sale and the number of units available for sale 2. Compute the number of units in ending inventory 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (a) specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 200 from the February 10 purchase, 150 from the March 13 purchase, 140 from the August 21 purchase, and 365 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.)

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