E7-4 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] Spotter Corporation reported the following for June in its periodic inventory records. Date Description June 1 Beginning 11 Purchase 24 Purchase 30 Ending Units 30 35 35 39 Unit Cost $11.00 12.00 14.00 Total Cost $330.00 420.00 490.00 Required: 1. Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.) Cost of Ending Cost of Goods Inventory Sold FIFO LIFO Weighted Average Cost Required information M7-7 to M7-9 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] [The following information applies to the questions displayed below] The following are the transactions for the month of July Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 47 $10 235 12 (100) 182 $16 M7-7 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO (LO 7-3] Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) FIFO (Periodic) Units Cost per Total Unit $ 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold 0 0 Total Cost of Goods Sold Ending Inventory FIFO (Periodic) Sales Cost of Goods Sold Gross Profit Dran . M7-7 to M7-9 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] The following information applies to the questions displayed below) The following are the transactions for the month of July. units Unit Cost Unit Beginning Twentary Purchase Sold Ending Inventory 189 235 $10 12 July 1 July 13 July 25 July 31 $ M7-8 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic LIFO [LO 7-3] Calculate cost of goods available for sale and ending inventory, then sales.cost of goods sold, and gross profit, under LIFO Assume a periodic inventory system is used (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) 501 10/14 O ch 1 E hp & 3 $ 4 % 5 6 7 8 9 0 E R [ P . Y U F G H K K L Deu D . Required information LIFO (Periodic) Cost per Units Total Unit Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory LIFO (Periodic) Sales Cost of Goods Sold Gross Profit S Prev 3 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) Weighted Average (Periodic) Cost per Units Total Unit $ 0 0 Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory 0 Weighted Average (Periodic) Sales Cost of Goods Sold Gross Profit