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Calculating cost of goods available for sale, ending inventory, sales, cost of goods sold, and gross profit under periodic and weighted average cost The following

Calculating cost of goods available for sale, ending inventory, sales, cost of goods sold, and gross profit under periodic and weighted average cost image text in transcribed
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The following are the transactions for the month of July July 1 Beginning Inventory July 13 Purchase July 25 Sold Units Unit Cost Selling Price 60 300 12 $10 (100) $ 16 July 31 Ending Inventory 260 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) (a)FIFO Units Cost per Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Sales Cost of Goods Sold Gross Proft (b)LIFO Cost per Total Beginning Inveniory Purchases July 13 Goods Avalable for Sale

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