Business, 10.04.2020 21:53 mv603177

Lint 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. Flint Company uses the periodic inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 92 $30 3/3 Purchase 54 $40 3/4 Sales 54 $70 3/10 Purchase 184 $45 3/16 Sales 62 $80 3/19 Sales 84 $80 3/25 Sales 54 $80 3/30 Purchase 38 $50

a. Using the FIFO assumption, calculate the amount charged to cost of goods sold for March.
b. Cost of goods sold $ Using the weighted-average method, calculate the amount assigned to the inventory on hand on March 31. (Round intermediate calculation and final answer to 0 dec Ending Inventory $ c. Using the LIFO assumption, calculate the amount assigned to the inventory on hand on March 31. Ending Inventory $

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Lint Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inv...

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