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- - X Data table ed the Date Cost of Goods Sold Merchandise Inventory on Hand Purchases May 9 $ 530 $ 530 310 220 May 22 May 31 220 440 Print Done Assume that a Tore Burger restaurant has the following perpetual inventory record for hamburgeries cik icon to view the perpetuitory record) Awal, noncourtene for me tocant termine that the current rachacement cost of the ending marchandise intory. Mowy ty need to apply the low cooket te werkende moto de ported on the balance sheet what value on May 317 Mae ynting entenced to wel holowe tecelor market ne Mecand dorita frut, van credita. Daca erakaratore tum mesa. Formations put to start an entry the wore a sus horary art the there Date Accounts May 31 Debat G at - Data table ed Net Sales Revenue 45,000 Cost of Goods Sold: Beginning Merchandise Inventory 3,890 31,200 Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold 35,090 4,900 30,190 $ Gross Profit 14,810 Print Done 8. The Sally's Gourmet Foods' merchandiso inventory data for the year ended December 31, 2018, follow Click the icon to view the data) Assume that the ending merchandise inventory was accidentally overstarod by $1.720. What are the correct amounts for cont of goods sold and gross profit? GOD Assuming ending merchandise inventory was overstated by $1,720, the correct amount for cost of goods sold is - - X Data table Cost of Goods Sold $ 479,000 90,000 Beginning Merchandise Inventory Ending Merchandise Inventory 115,000 Dr bund Print Done 3. The New Home Repair Shop had the bowing financial for the year ended December 31, 2018 ide the conto the financial What are the entory over and day sales in entory for the year? Comune New Home Recor Shop's inventory tumover for the year Select the labels and enter the amounts to complete inventory tumover and your answer to decimal places, XX Cost of goods sold - A chanse inventory Invertory over 3 78000 102.500 Come New Home Repair Shop's day sales inventory for the year Select the band enter the amounts to come the days sin inventory for the year. ( En amounts in the formato de ces XXX doond the days soles inventory to one capace XX) Daye salon inventory day 0 - X More info 5 oll ise it method. lance s to the Oct. 2 Purchased 12 gallons @ $2.25 each Oct. 6 Purchased 6 gallons @ $2.40 each Oct. 8 Sold 7 gallons of milk to a customer Oct. 13 Purchased 3 gallons @ $3.00 each Oct. 14 Sold 4 gallons of milk to a customer ed into the Print Done Requirements. Demineret amount at would be reported is ending merchandito inventory on October 15 ung the wearers mentory coating method Enter the action in chronological order calculating new story on hand balance after eachtraction one of the wanatos tave been entered into the perpetual cont, cautate a quatty and cont at marchandise Inventory purchased sold, and on hand and of the perioder amous to the nearest X.XX) Purchases Cast of Goods Gold Inventory on Hand Total Uw Unit Total Date Quantity Cost Cost Quantity Cost Cont Quantity Cost Oct Unit 13 14 More info Dec. 1 Beginning merchandise inventory 11 units @ $9 each alc d Dec. 8 Sale Dec. 14 Purchase 6 units @ $19 each 14 units @ $13 each 13 units @ $19 each Dec. 21 Sale Print Done - - Requirements 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method. 2. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the LIFO inventory costing method. 3. Which method results in a higher cost of goods sold? 4. Which method results in a higher cost of ending merchandise inventory? 5. Which method results in a higher gross profit? Print Done Assume WLToy store bought and hold a line of dots December as om cik the conto w Theransactions) JL Toys uses the perpetuist inventory Read the bar Requirement 1. Compute the cost of goods and cost efending matando de protagono costo Begin by computing the cost of goods and cut or ending merchandise restory higher invertory coming metoder to incora in crow, co on and other action Once the contenererede perpetreconclude the cost of the local and need to work Purchase Cost of Goode sol Inventory en Hand Total Un Total Date Quantity Cost Cout Quantity Cost Cool Quy Com De Decal Cool Dec 14 Dec. 21 Total