2. Following Information of Mohamed Company find the NET SALES, NET PURCHASES, and COST OF GOOD SOLD and GROSS PROFITS by using

LIFO and Weighted Average

1. JANUARY 1. BALANCE FROM LAST YEAR 22 UNITS @ $15 EACH
2. JANUARY 2 SOLD 14 UNITS @ $ 18 EACH
3. FEBRUARY 4 PURCHASED 8 UNITS @ $16 EACH
4. MARCH 5 SOLD 10 UNITS @ $18 EACH
5. APRIL 8 SOLD 5 UNITS @ $23 EACH
6. MAY 12 PURCHASED 14 UNITS @ $16 EACH
7. JUNE 15 PURCHSED 4 UNITS @ $16 EACH
8. JULY 17 SOLD 10 UNITS @ $23 EACH