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Date Transaction Units In Unit Cost Total Units Sold Sales Price Total 7/1 Balance 100 4.10 410 7/6 Purchase 800 4.20 3,360 7/7 Sale 300

Date

Transaction

Units In

Unit Cost

Total

Units Sold

Sales Price

Total

7/1

Balance

100

4.10

410

7/6

Purchase

800

4.20

3,360

7/7

Sale

300

7.00

2,100

7/10

Sale

300

7.30

2,190

7/12

Purchase

400

4.50

1,800

7/15

Sale

200

7.40

1,480

7/18

Purchase

300

4.60

1,380

7/22

Sale

400

7.40

2,960

7/25

Purchase

500

4.58

2,290

7/30

Sale

200

7.50

1,500

Totals

2,100

9,240

1,400

10,230

Compute FIFO, LIFO, Average for the periodic inventory system. Be sure to do a summary table and a partial income statement through gross profit for the inventory valuation method and inventory system.

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