Question

Bridgeport Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Bridgeport Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 90 $55 3/3 Purchase 54 $60 3/4 Sales 54 $120 3/10 Purchase 180 $65 3/16 Sales 81 $130 3/19 Sales 63 $130 3/25 Sales 45 $130 3/30 Purchase 36 $75

Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. Cost of goods sold $enter Cost of goods sold in dollars LINK TO TEXT

Using the FIFO assumption, calculate the value of ending inventory for March. Ending Inventory $enter Ending Inventory in dollars LINK TO TEXT

Using the moving average cost method, calculate the amount assigned to the inventory on hand on March 31. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answer to 2 decimal places, e.g. 2,520.56.) Amount assigned to the inventory enter Amount assigned to the inventory in dollars LINK TO TEXT

Using the LIFO assumption, calculate the amount assigned to the inventory on hand on March 31. Amount assigned to the inventory $enter Amount assigned to the inventory in dollars LINK TO TEXT

Using the LIFO assumption, calculate the amount charged to cost of goods sold for March. Cost of goods sold $enter Cost of goods sold in dollars

Answer 1