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Assume that Dunk Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: (Click the icon to view the transactions.) Read
Assume that Dunk Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: (Click the icon to view the transactions.) Read the requirements. ... Requirements 1., 2., and 3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the (1) FIFO inventory costing method, (2) LIFO inventory costing method, and (3) weighted-average inventory costing method. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Begin by determining ending merchandise inventory and cost of goods sold under each of the three methods. Requirement 1. FIFO Beginning merchandise inventory Plus: Net cost of inventory purchased Cost of goods available for sale 756 669 1425 Less: Ending merchandise inventory Cost of goods sold More info - din Id eth Jun. 1 Beginning merchandise inventory 27 units @ $28 each [r. e in Jun. 12 Purchase 3 units @ $31 each Jun. 20 Sale Jun. 24 Purchase Jun. 29 Sale Print Done 13 units @ $37 each 18 units @ $32 each 21 units @ $37 each Requirements 1. Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing method. 2. Compute ending merchandise inventory, cost of goods sold, and gross profit using the LIFO inventory costing method. 3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the weighted-average inventory costing method. (Round weighted- average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Print Done
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