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Brutus Corporation, a newly formed corporation has the following transactions during May, its first month of operations May 1 Purchased 500 units @ $25.00 each

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Brutus Corporation, a newly formed corporation has the following transactions during May, its first month of operations May 1 Purchased 500 units @ $25.00 each 4 Purchased 300 units @ $24.00 each 6 Sold 400 units @ $38.00 each 8 Purchased 700 units @ $23.00 each 13 Sold 450 units @ $37.50 each 20 Purchased 250 units @ $25 25 each 22 Sold 275 units @ $36.00 each 27 Sold 300 units @ $37.00 each 28 Purchased 550 units @ $26.00 each 30 Sold 100 units @ $39.00 each Using the table provided, calculate total sales, cost of goods sold, gross profit, and ending inventory using each of the average cost periodic inventory method Round the average to the nearest cent Total sales: $56,975.00 Cost of goods sold: $36,431.25 Gross profit: $20,543.75 Ending inventory: $19.981.2 Total sales: 556,975.00 Cost of goods sold: $36,587.50 Gross profit: $20,387.50 Ending inventory: 519,825.00 Total sales: 556,975.00 Cost of goods sold: $37312.50 Gross profit: $19.662.50 Ending inventory: $19,573.25 Total sales: 556,975.00 Cost of goods sold: $37.401.75 Gross profit: $19,573.25 Ending inventory: S19.010.75

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