The records of Barton Creek Golf Products include the following accounts for one of its products at December 31 of the current year.

\section*{Required}
1. Compute the quantities of goods in

(a) ending inventory and

(b) cost of goods sold during the year.
2. Prepare a partial income statement through gross margin under the weighted-average cost, FIFO cost, and LIFO cost methods.

Transcribed Image Text:

Jan. 1 Balance (700 units @ $7.00) Inventory 4,900 Purchases Jan. 6 Mar. 19 300 units @ $7.05 2,115 1,100 units 7.35 8,085 June 22 8,400 units @ 7.50 63,000 Oct. A 500 units @ 8.50 4,250 Dec. 31 Balance 77,450 Sales Revenue Feb. 5 1,000 units @ $12.00 12,000 Apr. 10 700 units 12.10 8,470 July 31 1,800 units @ 13.25 23,850 Sep. 4 3,500 units @ 13.50 47,250 Nov. 27 3,100 units @14.75 45,725 Dec. 31 Balance 137,295