Accounting homework help, please

Posted on 2014-04-04 06:59:00 in Accounting by

Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.



Date Activities Units Acquired at Cost Units Sold at Retail

Mar. 1 Beginning inventory 50 units @ $50/unit

Mar. 5 Purchase 200 units @ $55/unit

Mar. 9 Sales 210 units @ $85/unit

Mar. 18 Purchase 60 units @ $60/unit

Mar. 25 Purchase 100 units @ $62/unit

Mar. 29 Sales 80 units @ $95/unit



Totals 410 units 290 units





Compute gross profit earned by the company for each of the four costing methods. =



FIFO $ 9550

LIFO $ 8990

Weighted average $

Specific identification $



I already got the answers for FIFO and LIFO, just need weighted average and specific identification

really cannot figure out please help me.



Thank you.

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