inventory costing methods

Inventory Costing Methods Date 1-Sep 9-Sep 16-Sep 21-Sep 28-Sep Item Beginning Inventory Purchase Purchase Purchase Purchase Quantity 42 50 58 62 65 Cost Per Unit $15.00 $16.00 $18.00 $19.00 $21.00 Total $630.00 $800.00 $1,044.00 $1,178.00 $1,365.00 Sold 255 Units @ $27 each Sales FIFO Date Item Quantity Cost Per Unit Total Income Statement Salos Coat of Goods Sold Gross Profile Operating Expenses Net incomo Gross Profit $1,000,00 LIFO Date Item Quantity Cost Per Unit Total Ending Inventory Income Statement Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income Gross Profit %===> $1,000.00 AVERAGE COST Average Cost Per Unit=> Cost of Goods Sold===> Ending Inventory====> Income Statement Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income Gross Profit %===> $1,000.00