Date Table: May 5 Purchase of 155 crates @71each, May 13th was a sale and sold 180 crates @98 each, May 18th Purchase 193 crates @75 each, May 26 Sale sold 200 crates @100. Same data on requirement number 3

The answers I have in the boxes could be wrong. This table actually came empty but I am trying to double check it and I am having a hard time with requirement 3, weighed average

Requirement 2. Prepare a perpetual inventoryrecord, using the LIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit.Begin by computing the cost of goods sold and cost of ending merchandise inventory using the LIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventorypurchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.)

	Purchases			Cost of Goods Sold			Inventory on Hand
		Unit	Total		Unit	Total		Unit	Total
Date	Quantity	Cost	Cost	Quantity	Cost	Cost	Quantity	Cost	Cost
May 1							95	40	3800
5	155	71	11005				95	40	3800
							155	71	11005
13				155	71	11005	70	40	2800
				25	40	1000
18	193	75	14475				70	40	2800
							193	75	14475
26				193	75	14475	63	40	2520
				7	40	280
Totals	348		25480	380		26730	63		2520

Determine the company's gross profit using the LIFO inventory costing method.

Gross profit is $

using the LIFO inventory costing method.

Requirement 3. Prepare a perpetual inventoryrecord, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchandiseinventory, and gross profit.

Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted-average inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventorypurchased, sold, and on hand at the end of the period. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar.)

Gross profit is

using the weighted-average inventory costing method.