E6-19 (book/static) Assume that Toys Galore store bought and sold a line of dolls during December as follows (Click the icon to view the transactions) Toys Galore uses the perpetual inventory system Read the Purchases Unit Cost Total Cost Cost of Goods Sold U Total Quantity Cost Cost Date Quantity Inventory on Hand Unit Total Quantity Cost Cost 135 95 117 55 915 45 515 915 15 165 145 224 PS 101 $ 98 85 9 $ Dec. 1 Dec. Dee. 14 72 165 145 224 513 Dec. 21 915 1s 1 Enter any number in the coffields and then click Check Answer BE6-19 (book/static) Assume that Toys Galore store bought and sold a line of dolls during December as follows: (Click the icon to view the transactions) Toys Galore uses the perpetual Inventory system Read the name 715 105 515 Dec. 21 915 915 45 14 125 $ 243 98 7 $ 224 22 Totals 16 Compute the gross profit using the using the FIFO inventory costing method Gross profit is s 201' using the FIFO inventory costing method Requirement 2. Compute the cost of goods sold, cost of ending merchandise inventory and gross profit using the LIFO inventory costing method Begin by computing the cost of goods sold and cost of onding merchandise inventory using the LIFO Inventory costing method Enter the transactions in chronological order calcu and then click Check Answer Requirement 2. Compute the cost of goods sold cost of ending merchandise inventory and gross profusing the UFO inventory costing method Begin by computing the cost of goods sold and cost of ending merchandise inventory using the LIFO inventory costing moderns in chronological order, calculating new inventary on hand balances there transaction Once all of the transactions have been red into the perpetual record calculate the quality and total cost of merchandise inventory purchased sold and on hand at the end of the period Enter the oldest inven layers test Purchases Cost od Goods Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Quantity Cost Cost Quantity Cost Cost Dec. 1 Dec Cont Enter any number in the others and then click Check Answer Check Am 4 Clear A par remaining Assume that Toys Galore store bought and sold a line of dolls during December as follows: (Click the icon to view the transactions.) Toys Galore uses the perpetual inventory system. Read the women Cost Cost Cost Quantity Cost Quantity Cost Cost Quantity Date Dec. 1 Dec. 8 Dec. 14 Dec. 21 Totals Enter any number in the edit Delds and then click Check Answer Clear All 4 parts remaining O Type here to search ACC 101-2255u20Timothy HW S! Homework: Chapter 6 2 of 5 (2 complete) - X More Info Score: 141 of 5 pts E6-19 Requirements Assume that Click the Toys Galore Dec 1 Beginning merchandise Inventory 8 Sale 14 Purchase 21 Sale 13 units@ $9 each unts @ 22 each 16 units @ $ 14 each 14 units @ $ 22 sach Read the 1. Compute the cost of goods sold, cost of ending merchandise invertory, and gross profit using the FIFO inventory costing method 2. Compute the cost of goods sold, cost of ending merchandie Inventory, and gross profit using the UFO inventory costing method 3. Which method results in a higher cost of goods sold? 4. Which method results in a higher cost of ending merchandise inventory? 5. Which method results in a higher gross proft? Date Dec. Dec. Doc te Print Done Print Done Dec 21 Ender any number in the est selds and then Cho Answer CA 4 parts remaining S O . Type here to search