Problem 6-2a marlow company uses a perpetual inventory system. it

family health assessment part i 1
May 9, 2021
Your supervisor, Sarah Harris, is a new probation officer who has been on the job for only a few months and is still learning the job herself. You are asked to prepare a memo to Sarah Harris listing the five types of helping professionals that she might come into contact with during her job as a probation officer in a pretrial diversion program.
May 9, 2021

Problem 6-2a marlow company uses a perpetual inventory system. it

Problem 6.2A
Marlow Company uses a perpetual inventory system. it entered into the following calendar year 2011 purchases and sales transactions.
Date
Jan 1. Beginning inventory 600 units @ $44/unit
Feb 10. purchase              200 units @ $40 unit
Mar 13. purchase              100 units @ $20 unit
Mar 15. Sales                                                   400 units @ $75 unit
Aug 21 purchase               160 units @ $60 unit
Sept 5. purchase               280 units @ $ 48 unit
Sept 10. sales                                                      200 units @ $ 75 unit
Totals                               1,340 units                        600 units
 
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. specific indentification- units sold consist of 500 units from beginning inventory and 100 units from the march 13 purchase, and d. weighted aveage. round per unit costs to three decimals, but inventory balances to the dollar.
4. compute gross profit earned by the company for each of the four costing methods in part 3.

 
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