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Blue Outdoor Stores Inc. uses a perpetual imventory system and has a beginning inventory, as at April 1, of 145 tents. This consists of 52
Blue Outdoor Stores Inc. uses a perpetual imventory system and has a beginning inventory, as at April 1, of 145 tents. This consists of 52 tents purchased in February at a cost of $213 each and 93 tents purchased in March at a cost of $221 each. During April, the company had the following purchases and sales of tents: Determine the cost of goods sold and the cost of the ending inventory using FIFO. Cost of goods sold Ending inventory Calculate Blue Outdoors's gross profit and gross profit margin for the month of April. (Round gross profit margin to 1 decimal place, e.g. 1.2\% and gross profit to 0 decimal places, e.g. 5.275.) Gross profit Gross profit margin %
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