Nadal Athletic uses a periodic inventory system and has the following transaction related to its inventory for the month of August 2018:

Question:

Calculate sales revenue and gross profit under each of the three methods. ( FIFO, LIFO, weighted-average cost)

l) (20 point) Nadal Athletic uses a periodic inventory system and has the following transaction related to its inventory for the month of August 2018 Date Transactions Units Cost per Unit Total Cost August 1 Beginning inventory $130 $910 August 4 sale ($150 each) S August 11 Purchase 120 1,080 August 13 Sale ($160 each) 7 August 20 Purchase 12 l 10 1,320 August 26 Sale ($170 each) 10 August 29 Purchase 12 100 1,200 $4,510