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A company reports the following data for the month of June. Date Description 01-Jun-20 Beginning inventory 04-Jun-20 Purchase 18-Jun-20 Purchase 19-Jun-20 Purchase returns 28-Jun-20 Purchase

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A company reports the following data for the month of June. Date Description 01-Jun-20 Beginning inventory 04-Jun-20 Purchase 18-Jun-20 Purchase 19-Jun-20 Purchase returns 28-Jun-20 Purchase Qty Unit Cost 40 $ 40 135 $ 44 55 $ 10 $ 46 30 $ 50 46 Date Description 10-Jun-20 Sale 11-Jun-20 Sale returns 25-Jun-20 Sale Selling Qty Price 100 $ 70 10 $ 75 $ 75 70 Instructions: Calculate: 1. Gross profit using average-periodic (3%) 2. Gross profit using FIFO-periodic (5%) 3. Gross profit using FIFO-perpetual (6%) 4. Gross profit using average-perpetual (6%) Note: Show your calculation

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