Inventory

Using the following information, calculate gross profit and ending inventory using a) FIFO, b) LIFO, and c) weighted-average cost methods under an inventory system that uses specific identification. The company sold 2 units for $50 each on September 7. Date....... Units Cost/unit..... Total Cost Oct. 11 Purchase... 2 @ $10...... $20 Oct. 22 Purchase... 2 @ $20 $40 Sept 2 Purchase 3 @ $11 $ 33 Total $93 Using LIFO, what is the cost of Ending Inventory? Using FIFO, what is the cost of Ending Inventory? Using LIFO, what is the cost of COGS? Using FIFO, what is the cost of COGS? puli - Underwood University underwooduniversity.populiweb.com/router/courseofferings/10723523/assignments/tests/48708 TE My Profile My Courses Directory Veek 9: Inventories Using the following information, calculate gross profit and ending inventory using a) FIFO, b) LIFO, and c) weighted average cost methods under an inventory system that uses specific identification. The company sold 2 units for $5 each on August 27 Date Units Cost/unit....... Total Cost Aug. 10 Purchase............2 @ $11 $22 Aug. 12 Purchase 2@ $15 $30 Aug. 14 Purchase $ 44 Total $96 .2@ $22...... 1) Using FIFO, what is the cost of Ending Inventory? Save stco... GCPS Parent Portal Target Cashback, C. 83Bignments/tests/4870847/take Befrugal 2@ $10.... Date Units Cost/unit..... Total Cost Oct. 11 Purchase......... $20 Oct. 22 Purchase....... 2 @ $20. Sept 2 Purchase. 3@$11 $33 Total $93 .....$40 10) Using LIFO, what is the cost of Ending Inventory? 769 Point Saved