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i cant figure out how to solve these two problems? if there is a template on what to do? 100 150 40 12. The following
i cant figure out how to solve these two problems? if there is a template on what to do?
100 150 40 12. The following Information pertaining to the inventory of Duffy Company is available: # of units Cost ($) Sales ($) Beginning inventory ($32 cost per unit) 20 $ 640 Purchase #1 ($35 cost per unlt) 3,500 Purchase #2 ($42 cost per unit) 30 1,260 Avallable for sale $5,400 Ending inventory ? Sold during the year $9,900 During this period, Duffy sold 110 units for $90 aplece ($9,900 total). Determine Duffy's cost of goods sold, assuming it uses the first-In, first-out (FIFO) method for determining Its Inventory.costs. a. $3,790. Purchase 2 30 X42=1260 b. $3,960. Purchase 1 10 X35= 350 c. $3,947 d. $4,480. 110 13. Refer to the information for question #12. Determine Duffy's gross profit, assuming it uses the weighted- average method for determining its inventory costs. a. $5,953. b. $6,110. C. $5,840. d. $5,940 Step by Step Solution
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