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I need help with PART B ! View Policies Current Attempt in Progress Bramble Ltd. uses the perpetual inventory system and reports the following inventory
I need help with PART B !
View Policies Current Attempt in Progress Bramble Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Units Unit Cost/Price $4 Total Cost June 1 Explanation Beginning inventory Purchases Sale $6,360 10,500 12 5 1,590 2,100 (2,610 ) 4,830 15 12 16 Purchases 6 28.980 10.010 23 Purchases 1,430 7 27 Sales (5,810) 15 Your answer has been saved. See score details after the due date, Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, eg. 1.25.) FIFO Average Cost of goods sold $ 44640 46073 Cost of ending inventory $ 11210 9777 Attempts: 1 of 1 used Question Part Score 0/10 (b) Calculate the gross profit for the month of June using (1) FIFO and (2) average cost. (Round average final answers to 2 decimal places, eg. 1.25. Do not round intermediate calculations.) FIFO Average Cost Gross profit $Step by Step Solution
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