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14. Joe, Co. had the following inventory transactions for the month of April. They started the month with 70 units on hand which cost
14. Joe, Co. had the following inventory transactions for the month of April. They started the month with 70 units on hand which cost them $85 each. Purchases Sales Units on Hand Apr. 1 Apr. 4 70 60 units @ $90 each 130 Apr. 15 110 units @ $91 each 240 Apr. 18 180 units @ $430 each 60 Calculate Joe, Co.'s Cost of Goods Sold, Ending Inventory, and Gross Profit using the FIFO, LIFO, and Weighted Average Cost approaches to inventory costing.
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