case defence sells smartphone cases and uses the perpetual inventory system. the following is information on the purchases and sales of defence box cases on october 1 case defence had 28 units with cost of $22.

purchases sales

dates units unit costs units unit price

oct 3 18 23

oct 6 23 58

oct 12 28 25

oct 19 28 58

oct 23 38 27

oct 30 33 58

oct31 23 28

required

1. calculate the dollar value of cost of goods sold and ending inventory for the month of october using the following methods

ending inventory cost of goods

a FIFO

bmoving weighted average

2. using your calculations in part1 complete the following table,

sales

cost of goods

gross profit

3 which metod the higher gross profit ?

FIFO

Moving weighted average

3 which method produce the higher ending inventory blance

FIFO

Moving weighted average

4 calculate the gross profit percentage for FIFo and moving weighted average for the month of october

GROSS PROFIT%

FIFO

MOVING WEIGHTED AVERAGE