Question
Katzer LLC uses the periodic inventory system. The following table shows beginning inventory and inventory purchases for 2017. Units Cost per unit Totals Beginning inventory
Katzer LLC uses the periodic inventory system. The following table shows beginning inventory and inventory purchases for 2017.
Units Cost per unit Totals
Beginning inventory 4,420 $61 269,620
March 1 2,652 $67 177,684
June 12 1,856 $74 137,344
October 18. 3,448 $77 265,496
Katzer LLC sold 7,350 units for $100 each
Required: fill in the following table with amounts for cost of goods sold for 2017 based on the fifo, lifo, and weighted average inventory valuation methods.
Costs of goods Sold ($) FIFO ______? LIFI _____ ?Weighted -average ______?
Required: fill in the following table with amounts for gross profit and ending inventory for 2017 based on the fifo, lifo, and weighted average inventory valuations method.
Gross profit ($). FIFO____? LIFO_____? Weighted-average_____?
Ending inventory ($). FIFO_____? LIFO____? Weighted-average____?
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