Inventory Records Widget Tek’s original accountant accepted a position with another firm and left in early March. You have been asked to review the subsidiary inventory ledger record for Widget Tek’s main product for March:

Date Quantity Unit Cost Total Cost
Mar. 1 850 $98.00 $83,300
1,275 $95.00 $121,125
Mar. 8 650 $98.00 $63,700
Mar. 11 325 $98.00 $31,850
Mar. 14 325 $98.00 $31,850
780 $103.00 $80,340
Mar. 22 260 $98.00 $25,480
Mar. 25 260 $98.00 $25,480
1,900 $100.00 $190,000

Study the inventory record for March and answer the questions that follow.

a. Assuming that the product sells for $170 and that 80% of sales are on account, determine the gross profit from sales for March.
b. Making the same assumptions as in (1), determine the ending inventory cost for March.

A) If the product sells for $165 and that 70% of sales are on account, the gross profit from sales for March is $ 299,080.00

B) The ending inventory cost for March is $ 183,880.00

Explanation:

1) Calculation of Gross Profit

                                      Units Rate     Amount

Sale                         4465$ 165.00    $736,725.00

Cost of Goods Sold                      $ 437,645.00

Gross Profit                                     $ 299,080.00

2) Calculation of Ending inventory

Mar. 25260      $98.00$25,480.00

              1600      $99.00$158,400.00

              1860                  $183,880.00

according to the song of roland, the characteristics of an ideal knight are: loyalty to the king, skilled warriors and horseman, valiant, bold, courageous, strong and proud in battle. they should be determined to fulfil their duties and willing to die to make their people safe.