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I want to know if I got the Weighted Average, LIFO, and FIFO correct Given Information Units Unit Cost 5.40 Extended Cost 1,620.00 Beginning Inventory
I want to know if I got the Weighted Average, LIFO, and FIFO correct
Given Information Units Unit Cost 5.40 Extended Cost 1,620.00 Beginning Inventory 1/1/200X 300 $ Purchases 2/6/200X 5/19/200X 8/12/200X 10/4/2007 Avaliable for Sale 400 350 500 450 2,000 6.00 4.50 4.00 4.50 2,400.00 1,575.00 2,000.00 2,025.00 9,620.00 A Total year sales (Revenue) $ Revenue 45,000.00 Reve 25,000.00 $ 35,380.00 End Inventory Units 1,500 500 Weighted Avg FIFO Fill in 9 Boxes Below 7,215.00 $ 7,395.00 LIFO Value of Ending Inventory $ 6,770.00 Cost of Goods Sold $ 2,405.00 $ 2,225.00 $ 2,850.00 Gross Profit $ 9,620.00 $ 9,620.00 $ 9,620.00 Remember Revenue -Cost of Goods Sold =Gross ProfitStep by Step Solution
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