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INVENTORY COSTING: ALL 6 WAYS (Part 1 of 4) Below are inventory purchases and sales transactions during the month of February You will be asked
INVENTORY COSTING: ALL 6 WAYS (Part 1 of 4) Below are inventory purchases and sales transactions during the month of February You will be asked for COGS & El for all 6 methods we learned. The answers are split into different questions for grading and point purposes Your work must be on your PDF! NO WORK = NO CREDIT PLEASE label which method you are solving BEG INV & purchases Feb 1: Beginning Inventory: 150 Units @ $8 cost per unit Feb 14: PURCHASE from a vendor of 225 Units @ $12 cost per unit Feb 20: PURCHASE from a vendor of 325 Units @ $14 cost per unit Sales made to customers: Feb 8: SALE to a customer of 75 Units e 518 sales price per unit Feb 18: SALE to customer of 250 Units @ $22 sales price per unit Feb 25: SALE to customer of 175 units @ $24 sales price per unit Use the transactions above to determine: Goods Available for Sale in Dollars and Units Sales made to customers Feb 8: SALE to a customer of 75 Units @ $18 sales price per unit Feb 18: SALE to customer of 250 Units @ $22 sales price per unit Feb 25: SALE to customer of 175 units @ $24 sales price per unit GAFS Sin dollars) Use the transactions above to determine: Goods Available for Sale in Dollars and Units GAFS Slin dollars) G Search or type URL GAFS Units (QTY % & Sales in dollars and units Sales Siln dollars) Units sold (QTY) Units in Ending Inventory(QTY) 350 G&A Expenses Selling Expenses 275 Income tax expense 22 Interest expense 18 TOTAL DR & CR $1358 $1358 Include the income stmt on your PDF upload. You may enter your result for Net Income below fo preliminary grading. NOTE: points will be deducted if the format is incorrect, even if net income is properly calculatec Question 10 Gross Profit % What is the GP% based on the income statement for Step BUY Step
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