Question
Gregs Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic
Gregs Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system.
| Date | Transactions | Units | Cost per Unit | Total Cost | |
| March 1 | Beginning inventory | 20 | $185 | $ | 3,700 |
| March 5 | Sale ($270 each) | 15 | |||
| March 9 | Purchase | 10 | 205 | 2,050 | |
| March 17 | Sale ($320 each) | 8 | |||
| March 22 | Purchase | 10 | 215 | 2,150 | |
| March 27 | Sale ($345 each) | 12 | |||
| March 30 | Purchase | 9 | 235 | 2,115 | |
| $ | 10,015 | ||||
| Calculate sales revenue and gross profit under each of the four methods please add sales revenue/gross profit for specific identification, fifo, lifo, and weighted average cost. .
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Corporate Audit Scams A Threat To Corporate Governance
Authors: Sachi Kheskani
1st Edition
3659490148, 978-3659490149
