Ivanhoe Novelty had a beginning inventory balance on July $1$ of $350$ units at a cost of $$3\mathrm{.}00$ each. During the month, the following

inventory transactions took place:

Calculate the cost of goods available for sale and the number of units of ending inventory.

Cost of goods available for sale

Number of units of ending inventory

units

Question Part Score

Assume Ivanhoe uses FIFO periodic.

Calculate the cost of ending inventory, cost of goods sold, and gross profit.

Ending inventory $

Cost of goods sold $

Gross profit

$

Question Part Score

Assume Ivanhoe uses FIFO perpetual.

Calculate the cost of ending inventory, cost of goods sold, and gross profit.

Ending inventory $

Cost of goods sold $

Gross profit

$