Apr 1 40 bottles remain from last month in inventory at a cost of $50 per bottle:

Apr 5          25 bottles are sold for $98.50

Apr 9          150 bottles are purchased at a cost of $55 per bottle

Apr 18        80 bottles are sold for $110

Apr 24        50 bottles are purchases for $60 per bottle

Apr 29        Sold 110 bottles are sold for $135

Apr 30 60 bottles purchases at a cost of $70 per bottle The company uses the perpetual inventory method. 

Requirements:

Calculate the value of inventory at each of the above dates and determine the ending inventory at the end of April using the FIFO inventory method,  on inventory chart provided

Calculate the value of inventory at each of the above dates and deterimne  the ending inventory balance at the end of April using the Weighted Average Method, on the chart provided.

Which inventory valuation method should be used when the inventory includes perishable product (items with expiration dates ) and explain why?  Give an example of a type of inventory that would be perisable.

Compute the company's revenue earned on the chart provided and then calculate gross profit percentage using the weighted average method. How does the gross profit percentage compare with the industy average of 75% ?  Explain

Calculate the inventory turnover ratio for the month and explain how this compares to the industry average of 2.3 times.  Round to one decimal place.

FIFO Method

Date	Purchases			Sales			Balance
	Quantity	Unit Cost	Value	Quantity	Unit Cost	Value	Quantity	Unit Cost	Value
Ending Inventory Value

Weighted Average Method

Date	Purchases			Sales			Balance
	Quantity	Unit Cost	Value	Quantity	Unit Cost	Value	Quantity	Unit Cost	Value

	Sales Revenue
Date	Quantity	selling price	Value
	Total Revenue