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Akira Company has the following transactions for the month Number Total of Units Cost Beginning inventory 130 $1,300 Purchased Mar. 31 190 2,200 Purchased Oct.
Akira Company has the following transactions for the month Number Total of Units Cost Beginning inventory 130 $1,300 Purchased Mar. 31 190 2,200 Purchased Oct. 15 160 2,400 Total goods available for sale 480 5.900 Ending inventory 50 Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $25 each. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Gross Margin A. First-in, First-out (FIFO) 900 x 3. Last-in, First-out (LIFO) C. Weighted Average (AVG) 12.5 X Fut Check my Calculate the sales amount by applying the appropriate costing method (FIFO, LIFO, Weighted average cost). Determine the cost of goods sold amount (total inventory available less the ending inventory balance). These two figures are needed to calculate the gross margin Ock My Work
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