Question

the our costing methods in part 3. purchases Company uses a perpetual inventory system. It entered into the following calendar year 2015 Proble and sales transactions. For specific identification, units consist of 600 units from begin- Perpet 21 inventory, 300 from the February 200 from the March 13 purchase, from the August cost flo and 250 from the September 50 5 purchase.) Date Activities Units Acquired at Cost Units sold at Retail Jan. I Beginning inventory Feb. 10 Purchase 600 units $45.00 per unit 400 units $42.00 per unit Mar. 13 Purchase 200 units $27.00 per unit Mar. 15 Sales 800 units $75.00 per unit Aug. 21 Purchase 100 units $50.00 per unit Sept. 5 Purchase 500 units $46.00 per unit Sept. 10 Sales 600 units $75.00 per unit Totals 800 units 1,400 units Required 1. Compute cost of goods available for sale and the number of units available for sale. Chec 2. Compute the number of units in ending inventory. LIFO (a) specific identification. (Round all amounts to cents.) 4. Compute gross profit earned by the company for each of the four costing methods in part 3. profit. Analysis Component 5. If the company's manager earns a bonus based on a percent of gross profit, which method of inventory costing will the manager likely prefer? Refer to the information in Problem 6-3A and assume the periodic inventory system is used Pro