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Compute ending inventory, cost of goods sold, and gross profit. (Round answers to 0 decimal places, e.g. 6,548.) Ending inventory $enter a dollar amount rounded
Compute ending inventory, cost of goods sold, and gross profit. (Round answers to 0 decimal places, e.g. 6,548.)
Ending inventory | $enter a dollar amount rounded to 0 decimal places | |
---|---|---|
Cost of goods sold | $enter a dollar amount rounded to 0 decimal places | |
Gross profit | $enter a dollar amount rounded to 0 decimal places |
I have posted this question 2 times. They both got it incorrect. Please someone help me
Edward Sun Fun manufactures three categories of bicylces: Mountain, Road, and Hybrid. On January 1, 2017, Edward adopted dollar- value LIFO and decided to use a single inventory pool. The company's January 1 inventory consists of: Category Quantity Cost per Unit Total Cost Mountain 3,000 $576 $ 1,728,000 Road 2,000 1,024 2,048,000 Hybrid 5.000 320 1,600,000 10,000 $5,376,000 During 2017, the company had the following purchases and sales. Quantity Purchased Quantity Sold Selling Price per Unit Category Cost per Unit Mountain 10,000 $634 11,000 $832 Road 9,000 1,050 8,000 1,536 Hybrid 13,000 384 12,000 640 32,000 31,000Step by Step Solution
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