Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi there I need the A3 part asnwered the gross profit rate, I have attached an excel file please also put some steps in the

Hi there I need the A3 part asnwered the gross profit rate, I have attached an excel file please also put some steps in the excel under gross profit rate on how to get the answer. Dead line is 20 minutes, thanks

image text in transcribed You are provided with the following information for Najer Date June June June June June June June June 1 4 10 11 18 18 25 28 Collapse question part (a1) Correct answer. Your answer is correct. Calculate cost per unit. (Round answer to 2 de Weighted-average cost per unit Show Solution Show Answer Link to Text Attempts: 1 of 3 used Collapse question part (a2) Correct answer. Your answer is correct. Calculate ending inventory, cost of goods sold, The ending inventory The cost of goods sold Gross profit Show Solution Show Answer Link to Text Attempts: 2 of 3 used Collapse question part (a3) Calculate gross profit rate under each of the fo LIFO Gross profit rate Link to Text wing information for Najera Inc. for the month ended June 30, 2017. Najera uses the periodic method for inventory. Description Quantity Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase 40 136 115 12 58 9 66 35 Unit Cost or Selling Price $40 44 69 69 46 46 74 50 Your answer is correct. it. (Round answer to 2 decimal places, e.g. 5.25.) $ Entry field with correct answer Your answer is correct. entory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost m LIFO $ FIFO $ AVERAGE-COST $ Entry field with corre $ Entry field with corre $ Entry field with corre Entry field with corre $ Entry field with corre $ Entry field with corre Entry field with correct answer $ Entry field with correct answer $ Entry field with correct answer rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2%.) FIFO % % AVERAGE-COST % st. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250. Use weig place, e.g. 51.2%.) aces, e.g. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Multicolumn Journal

Authors: Claudia Gilbertson

10th Edition

128552845X, 9781285528458

Students also viewed these Accounting questions

Question

Did the researcher provide sufficient description?

Answered: 1 week ago

Question

What is management growth? What are its factors

Answered: 1 week ago

Question

The fear of making a fool of oneself

Answered: 1 week ago

Question

Annoyance about a statement that has been made by somebody

Answered: 1 week ago