Final Score Periodic Inventory by Three Methods The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Attempt Score Number of Units Date Transaction Per Unit Total Apr. 3 Inventory 25 $1,200 1,240 Comments B. Purchase 75 1 11 Sale 40 No Comme 30 30 May 8 Sale Purchase 60 10 Sale 50 2,000 2,000 1,260 2,000 2,000 1,260 2,250 $30,000 93,000 80,000 60,000 75,600 100,000 40,000 100,800 90,000 56,250 44,240 99,000 19 20 Sale Purchase 28 80 June 5 Sale 40 16 Sale 25 2.250 21 Purchase 35 1,264 28 Sale 2,250 Renuired Previous 1. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the first in, first-out method and the periodic inventory system. Inventory, June 30 32,864 Cost of goods sold 310,776 2. Determine the inventory on June 30 and cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system. Inventory, June 30 31,240 Cost of goods sold 312,400 3. Determine the inventory on June 30 and the cost of goods sold for the three month period, using the weighted average cost method and the periodic inventory system. Note: Round the weighted average unit cost to the nearest dollar and final answers to the nearest dollar Inventory, June 30 32,500 Cost of goods sold 311,250 X 4. Compare the gross profit and June 30 inventories using the following column headings. For those boxes in which you must enter subtracted or negative numbers use a minus sign. FIFO LIFO Weighted Average Previou Inventory, June 30 31,240 Cost of goods sold 312,400 3. Determine the inventory on June 30 and the cost of goods sold for the three month period, using the weighted average cost method and the periodic inventory system. Note: Round the weighted average unit cost to the nearest dollar and final answers to the nearest dollar. 32,500 Inventory, June 30 Cost of goods sold $ 311,250 X 4. Compare the gross profit and June 30 inventories using the following column headings. For those boxes in which you must enter subtracted or negative numbers use a minus sign. FIFO LIFO Weighted Average Sales $ 525,250 $ 525,250 $ 525,250 310,776 Cost of goods sold 312,400 311,250 $ 214,474 Gross profit $ 212,850 X 214,000 31,240 32,864 32,500 Inventory, June 30 Previous