Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

could you please complete (a2) You have the following information for Blossom Company for the month ended October 31, 2022 Blossom uses a periodic method

image text in transcribed
image text in transcribed
image text in transcribed
could you please complete (a2)
You have the following information for Blossom Company for the month ended October 31, 2022 Blossom uses a periodic method for inventory Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 65 $24 Oct. 9 Purchase 130 26 Oct. 11 Sale 90 40 Oct. 17 Purchase 90 27 Oct.22 Sale 65 45 Oct. 25 Purchase 75 29 Oct. 29 Sale 100 45 (a1) Your answer is correct. Calculate the weighted-average cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted average cost per unit $ 26,514 e Textbook and Media X Your answer is incorrect Calculate ending inventory, cost of goods sold, gross profit under each of the following methods (1) LIFO. (2) FIFO. (3) Average cost. Round answers to decimal place, es 125.) LIFO FIFO AVERAGE-COST The ending inventory 2985 The cost of goods sold Gross profit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Conservation Easement IRS Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304133923, 978-1304133922

More Books

Students also viewed these Accounting questions