also, present the journal entries for the sale (on account) on june 30 under the FIFO method.

then, determine the amount of gross profit for june whem using the FIFO method.

next, determine the dollar amount of the inventory balance at June 30 using the LITO Method of inventory valuation.

Part 4 - Inventory Valuation Questions. Enter the accounts and amounts for each transaction The following is information regarding the purchases and sales of Commodity A3 The company uses a perpetual inventory system Use the FIFO/LIFO inventory grids by clicking on the GRIDS tab below. cost cach each June 1 10 15 20 30 Balance Purchased Sold Purchased Sold 20 units 30 units 15 units 12 units 25 units cost for cost for $24 $25 $40 $26 $41 each each each 33 Determine the dollar amount of the inventory balance at June 30 using the FIFO method of inventory valuation Dollor amount