Answered step by step
Verified Expert Solution
Question
1 Approved Answer
b please :) Pina Furniture Ltd. uses a perpetual Inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a
b please :)
Pina Furniture Ltd. uses a perpetual Inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $132 each. During June, the company had the following purchases and sales of bookcases Purchases Sales Date Units Unit cost Units Unit price June 6 1,160 $134 10 950 $201 14 1,780 135 16 1,660 206 26 970 136 (a) Your answer has been saved. See score details after the due date Determine the cost of goods sold and the cost of the ending inventory using the average cost formula, pe unrounded numbers for average cost calculations. Round answers to 2 decimal places as 5.52) Cost of goods sold 350088.92 Cost of the ending inventory $ 24225108 Attempte: 1 of 1 used (b) calculate Pina Furnitures gross profit and gross profit margin for the month of June (Round gross prontmargin to dedmal place, 05.15.1 and gross profit to the nearest whole dollar, ag. 1525) Gross proht Gross profit margin Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started