2023 Park Company reported the following March purchases and sales data for its only | Assignments Online

2023 Park Company reported the following March purchases and sales data for its only | Assignments Online

Assignments Online 2023 Business Finance

Park Company reported the following March purchases and sales data for its only product.

  

Date		Activities	Units Acquired at Cost								Units sold at Retail
Mar.	1	Beginning Inventory	150	units	@	$	7.00	=	$	1,050
Mar.	10	Sales										90	units	@	$	15
Mar.	20	Purchase	220	units	@	$	6.00	=		1,320
Mar.	25	Sales										145	units	@	$	15
Mar.	30	Purchase	90	units	@	$	5.00	=		450
		Totals	460	units					$	2,820		235	units

  

Park uses a perpetual inventory system. For specific identification, ending inventory consists of 225 units, where 90 are from the March 30 purchase, 80 are from the March 20 purchase, and 55 are from beginning inventory.

references

 

 2.

value:
1.00 points

 

 

Exercise 5-3 Part 1

1.	Determine the cost assigned to ending inventory and to cost of goods sold using specific identification.(Omit the “$” sign in your response.)

Ending inventory

$  Exercise 5-3 Part 2 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.(Due to rounding, the sum of Cost of Goods Sold and Ending inventory may not equal the Cost of Good available for sales.Round per unit costs to three decimal places. Round your answer to nearest dollar amount. Omit the “$” sign in your response.)    Date Cost of Goods Sold Inventory Balance 3/1   $  Exercise 5-3 Part 3 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. (Omit the “$” sign in your response.)    Date Cost of Goods Sold Inventory Balance 3/1   $  Exercise 5-3 Part 4 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Omit the “$” sign in your response.)     Date Cost of Goods Sold Inventory Balance 3/1   $ [removed] 3/10 $ [removed]      $ [removed] 3/20   $ [removed] 3/25 [removed]      $ [removed] 3/30   $ [removed]     Total $ [removed]            check my workeBook LinkView Hint #1references   9 years ago 22.03.2013 5 Report Issue Answer(1) corp.sumit 1.0 (2)  (Not rated) Chat Purchase the answer to view it NOT RATED solution-1.xlsx 9 years ago plagiarism checkPurchase $5 Bids(1) corp.sumit other Questions(10) a cube has a side length of 36 inches. what is the area of the base? slope intercept form of -1/4 (-2,8) need the facts to a case by tonight VM2 home work assugnment Statistics Need help with parabola, hyperbola, and ellipse homework. need help in my homework Loihi is a future Hawaiian island in the process of forming on the ocan floor Considering how this island chain… Applied Sciences Architecture and Design Biology Business & Finance Chemistry Computer Science Geography Geology Education Engineering English Environmental science Spanish Government History Human Resource Management Information Systems Law Literature Mathematics Nursing Physics Political Science Psychology Reading Science Social Science Home Homework Answers Blog Archive Tags Reviews Contact

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