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calculate weighted average , FIFO & LIFO 5. Taylor's Skate Shop began August with merchandise inventory of 34 skateboards that cost a total of $1,020.

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5. Taylor's Skate Shop began August with merchandise inventory of 34 skateboards that cost a total of $1,020. During the month, she purchased and sold merchandise on account as follows: August 3 Purchase 11 Sale 20 Purchase 21 Sale 10 skateboards $33 each 23 skateboards@ $95 15 skateboards @ $35 each 31 skateboards@ $100 for weighted average, FIFO, and LIFO inventory methods: Gross sales, Purchases, cos, Gross profit and ending inventory Weighted Average Beginning 1 34, 620 Inventory Aug 3 purchase Avg l Sale Avg 20 Purchase Avg 21 sale COGS Ending Inventory Purchases Gross Proft Gross Profit Purchases COGS Ending Inventory LIFO COGS Ending Inventory Purchases Gross Profit

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