Summary ACCT 211 Connect Homework Chapter 5 Problems Liberty University answers complete solutions You'll get 1 XLSX 2022/2023

ACCT 211 Connect Homework Chapter 5 Problems Liberty University answers complete solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. 1. Compute cost of goods available for sale and the number of units available for sale. Question 2 2. Compute the number of units in ending inventory. Question 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. Question 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Question 5 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions 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) weighted average, and (d) specific identification. For specific identification, units sold consist of 660 units from beginning inventory, 230 from the February 10 purchase, 110 from the March 13 purchase, 90 from the August 21 purchase, and 250 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.)