Nadal Athietic uses a periodic inventory system and has the following transactions related to its inventory for the month of August 2024 For the specific identification method, the August 4 sale consists of units from beginning inventory, the August 13 sale consists of units from the August 11 purchase, and the August 26 saie consists of one unit from begirining inventory and 10 units from the August: 20 purchase Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method 2. Using AFO, calculate ending inventory and cost of goods sold at August 31 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at August 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Nadal chooses to report inventory using LIFO, record the LIFO adjustment. Complete this question by entering your answers in the tabs below. Comparing FIFO and LFO, which one provides the more meaningful measore of ending inventory? Nadal Athletic uses a periodic imventory system and has the following transactions related to its inventory for the month of August 2024: For the specific identification method, the August 4 sale consists of units from beginning imventory, the August 13 sale consists of units from the August 11 purchase, and the August 26 sole consists of one unit from beginning inventory and 10 units from the August 20 purchase Required: 1. Calculate ending inventory and cost of goods sold at August 3t, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31 . 3. Using UFO calculate ending inventory and cost of goods sold at August 31 4. Using weighted-average cost. calculate ending inventory and cost of goods sold at August 31. 5. Calculate sales reverne and gross profit under each of the four methods 6. Comparing FIFO and LFO, which one provides the more meaningtul measure of ending inventory? 7. If Nadal chooses to report inventory using LiFO, record the LIFO adjustment. Complete this question by entering your answers in the tabs below. Uwing Fro, calculate ending ieventory and cost of goods sold at August 31 . Complete this question by entering your answers in the tabs below. If Nadat chooses to report imentory using LiFO, record the LFO adjustment. (If no antry is required for a transaction/event, select "No Joumal Entry Required" in the first account field.) Journal entry worksheet Nadal Athletc uses a periodic inventory system and has the following transactions related to its inveritory for the month of Alygust 2024: For the specific identification method, the August 4 saie consists of units from beginning inventory, the August 13 sale consists of units from the August 11 purchase, and the August 26 sale consists of one unit from beginning inventory and 10 units from the August 20 purchase Required: 1. Calculate ending inventory and cont of goods sold at August at, using the specific identification method 2. Using FIFO, calculate ending inventory and cost of goods sold at Aupust 31 3. Using UFO, calculate ending imventory and cost of goods sold at August 31 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at August 31 . 5. Calculate sales revenue and gross profit under each of the four methods 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Nadal chooses to report inventory using UFO, record the UFO adjustrient Complete this question by entering your answers in the tabs beiow. Using trFo, calculate ending inventory and cost of goods sold at Augurk 31 Nadal Athletic uses a periodic inventory system and has the following tansactions related to its inventory for the month of August 2024. For the specific identification method, the August 4 sale consists of units from beginning inventory, the August 13 sale consists of units from the August 11 purchase, and the Auqust 26 sale consists of one unit from beginning inventory and 10 units from the August 20 purchase Required: 1. Caiculate ending imventory and cost of goods sold at August 3t, using the specific identification method. 2. Using FFF, calculate ending inventory and cost of poods sold at August 31 . 3. Using UFO, culculate ending inventory and cost of goods sold at Aupust 31 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at August 31. 5. Calculate sales reventie and gross. profit under each of the four methods. 6. Comparing FFO and UFO, which one provides the more meaninglut meastre of ending inventory? 7. If Nadal chooses to report inventory using LiFO, record the UFO adjustment. Complete this question by entering your answers in the tabs below. Calcalate ending inventory and cost of geods sold at August 3t, usiog the specific identification method. Nadal Athletic uses a periodic inventory system and has the following transactions related to its inventory for the month of August 2024: For the specific identifation method, the August 4 sale consists of units from beginning inventory, the August 13 sale consists of units from the August 11 purchase, and the August 26 sale consists of one unit from beginning inventory and 10 units from the August 20 purchase. Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. 3. Using UFO, calculate ending inventory and cost of goods sold at. August 31 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at August. 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LFO, which one provides the more meaningful measure of ending inventory? 7. If Nadal chooses to report inventory using UFO. record the LIFO adjustiment. Complete this question by entering your answers in the tabs below. Using woighted-average cost, calculate ending inventory and cost of goods sold at August 31. (Round your intermediate calculations to 4 decimal places and final anowers to 2 decimat places) Nadal Athletic uses a periodic inventory system and has the following transactions related to its inventory for the month of August 2024: For the specific identification method, the August 4 sale consists of units from beginning inventory, the August 13 sale consists of units from the August 11 purchase, and the August 26 sale consists of one unit from beginning inventory and 10 units from the August 20 purchase. Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method 2 Using FFO, calcutate ending inventory and cost of goods sold at August 31 3. Using UFO, calculate ending inventory and cost of goods sold at August 31 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at August 31 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and UFO, which one provides the more meaningful measure of ending inventory? 7. If Nadat chooses to report inventory using UFO, record the LIFO adjustment. Complete this question by entering your answers in the tabs below. If Nadal chooses to report inventory using Lifo, record the Lifo adjustment, (if no entry is required for a trancectionvevent, select "No Journal Entry Hequired" in the fint account fieid.) Nadal Athletic uses a periodic inventory system and has the following transactions related to its inventory for the month of August 2024: For the specific identification method, the August 4 sale consists of units from beginning inventory, the August 13 sale consists of units from the August 11 purchase, and the August 26 sale consists of one unit from beginning inventory and 10 units from the August 20 purchase Required: 1. Calculate ending inventory and cost of goods sold at August 31 , using the specific identification method 2. Using FFO, calculate ending inventory and cost of goods soid at August 31. 3. Using UFO, calculate ending inventory and cost of goods sold at August 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at August 31 . 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Nadal chooses to report inventory using UFO, record the LIFO adjustment. Complete this question by entering your answers in the tabs below. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average intermediate calculations to 4 decimal places and final answeru to 2 decimal places.)
