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Hopkins Company reported the following information related to inventory and sales: Units Unit Cost Beginning inventory 1,800 $20 Purchase Number 1 7,800 22 Purchase Number
Hopkins Company reported the following information related to inventory and sales:
Units | Unit Cost | |
---|---|---|
Beginning inventory | 1,800 | $20 |
Purchase Number 1 | 7,800 | 22 |
Purchase Number 2 | 2,800 | 23 |
Sales9,600 units at $35 per unit.
Required:
Compute the Average cost, FIFO, and LIFO of sales revenue, cost of goods sold, gross profit, balance sheet inventory
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