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3. The records of Dollars 2 Donuts Ltd. showed the following for June: (15pt) Sales Purchase Beginning Inventory 4,200 units at $200 each 4,000 units

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3. The records of Dollars 2 Donuts Ltd. showed the following for June: (15pt) Sales Purchase Beginning Inventory 4,200 units at $200 each 4,000 units at $150 each 6,000 units at $100 each Required: Assuming the periodic inventory system is used complete the following tabulation: FIFO $ $ Weighted Average $ $ (1) Sales (2) Cost of goods sold (3) Gross margin (4) Ending inventory S S S S I 4. On January 1, 2013, The Landing Strip Inc. purchased a 5-acre tract of land with a bu thereon. The asking price was $17,500. (8pt)

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