Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO?

$___________

Exercise 8-10

Inventory information for Part 311 of Windsor Corp. discloses the following information for the month of June.

June 1		Balance		302 units x $15		June 10		Sold		197 units x $36
11		Purchased		795 units x $18		15		Sold		499 units x $38
20		Purchased		499 units x $20		27		Sold		296 units x $41

Computation of closing units: Cost of Ending Invento FIFO LIFO Units Rate ValueUnitsRate Value 154,530 185,436 9,966 Date Particulars Units Rate 01-Jun Opening Balance302 795 499 Goods available for sales1,596 992 604 Value 15 4,530 18 14,310 20 9,98o 28,820 181,890 20 9,980 11,870 105 302 302 11-Jun Purchases 20-Jun Purchases 499 Less: Units Sold Closing Units Cost of goods sold: Cost of goods available for sales- Less: Cost of Ending Inventory- Cost of goods sold FIFO LIFO 28,82028,820 (11,870)(9,966) 16,950 18,854