Kathy's kitchen company sells handcrafted dinner plates the local customers. Kathy purchases these plates from local artist at varying costs. Due to their uniqueness in beautiful craftsmanship, each plate is sold for $20. Using the information below, answer the series of questions assuming a periodic inventory system. Round final answer to the nearest whole dollar.

INVENTORY (continued) 5. Cathy's Kitchen Company sells handcrafted dinner plates to local customers. Cathy purchases these plates from local artists at varying costs. Due to their uniqueness and beautiful craftmanship, each plate is sold for $20. Using the Information below, answer the series of questions assuming a periodic inventory systern. Round final answer to the nearest whole dollar. YEXO SUAVENT Cost of goods available for sale consisted of Beginning Inventory: 40 plates at $11.00 Purchases: 10 plates for $12.00 WOH Purchases: 20 plates for $11.50 During July, the following sales transactions took place: July 10: Sold a dozon plates to a new customer for cash July 20: Sold 15 plates to a new customer for cash July 21: Sold 24 plates to a local restaurant on account What is cost of goods sold using the LIFO method of cost flow estimation? What is ending inventory using the LIFO method of cost flow estimation? DO What is gross profit using the LIFO method of cost flow estimation for the month of July? YAT What is ending inventory using the FIFO method of cost flow estimation? What is cost of goods sold using the Average Cost method of cost flow estimation? ACCT 200 FUNDAMENTALS OF FINANCIAL ACCOUNTING EXAM 2 REVIEW | PAGE 2