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I need help with 11-13 During March, KC Company sells 9,600 watches for $350.00 each. The company has the following inventory purchase transactions for September:
I need help with 11-13
During March, KC Company sells 9,600 watches for $350.00 each. The company has the following inventory purchase transactions for September: Date 1-Mar 7-Mar 24-Mar Transaction Beginning Inventory Purchase Purchase # of Units 500 6,700 2,800 10,000 Unit cost $207.00 $210.00 $211.00 Total Cost $103,500 1,407,000 590,800 $2,101,300 7. $ _What were company's sales for the period? For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation. 8. $ Calculate ending inventory (FIFO) Chapter 6 Page 6-1 9. $. Calculate cost of goods sold (FIFO) 10. $. _Calculate gross profit (FIFO) For questions 11 - 13 assume the company uses Last-in, First-out (LIFO) inventory valuation. Calculate ending inventory (LIFO) _Calculate cost of goods sold (LIFO) 13. $. _Calculate gross profit (LIFO)
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